Xinhua Finance eziData China Consumer Confidence Index (CCCI) was updated today, with the survey results showing that, due to a series of negative factors such as the falling stock market and concerns on deepening subprime mortgage crisis, China consumer confidence index went down to 92 in July, which was 3.1 points down from that of June, or 4.8 points down from that of January 2008. Meanwhile, the US consumer confidence index released by the University of Michigan has been declining since January 2008, mainly affected by the subprime mortgage crisis.

In July, it rebounded a little bit to 61.2, but still 17.2 points down from that of January. It is worth noting that China consumers' sentiment on the current general prices improved for the third consecutive month in July to 72.2, the best reading since November 2007.

The July consumer sentiment on current conditions in China was 90.9, which was 3.7 points down from June, or 6.3 points down from January. The decline in July was mainly due to the continuous failure of the expected stock market rebound in recent couple of months, which caused more loss on
the part of the investors.

The July consumer sentiment on future expectations in China was 92.6, which was 2.6 points down from June, or 3.9 points down from January. The decline was mainly due to consumers' concerns on possible deepening of the subprime mortgage crisis, which was expected to have negative impacts on China's future economy.

On the other hand, China consumers' sentiment on current general prices in July kept a strong improving trend seen in May and June and rose another 0.7 point to 72.2. The consumer sentiment on current prices was 71.5 in June, 67.1 in May, and 57.9 in April. Overall, the July reading was 14.3 points up from that of April.