Chinese consumer confidence increases in Q4: survey

Consumer confidence in China increased in the fourth quarter of 2012, survey company Nielsen said on Wednesday.

Confidence increased to 108 points in the final three months of last year, two points more than the third quarter and the same level as the end of 2011.

"Above 100 points represents an optimistic attitude and below 100 shows pessimism," said Yan Xuan, president of Nielsen in China. "The Chinese economy is expected to grow at a steady speed under monetary policies."

The survey found that 70 percent of consumers expect prices to increase in the next 12 months. Only five percent expect a decrease.

According to the survey, in the fourth quarter, rural consumers were the most optimistic, while people living in large cities were less confident about consumption.

Compared to the last quarter, consumers' attitudes towards consumption in the next six months is at the same level. They also have higher expectations for employment and personal economic status.

Nielsen surveyed 3,500 consumers from both urban and rural areas in China, the largest of its kind. It started its survey in global consumer confidence in 2005.