China's entrepreneur confidence index plunged to 123.8 points in the third quarter of 2008 - down 11 points from the previous quarter. The index is down some 19.2 points year on year, the National Bureau of Statistics has revealed.
The index, a gauge of the "understanding, views and projections of
business people", has been declining all year, state media reports. In
the second quarter it was 5.8 points lower than the first quarter.
According to the NBS, Chinese entrepreneurs in all economic sectors
were much less confident in the July-September period than previously.
The property sector was the least confident, dropping by 22 points, to
96.4, in the third quarter. Manufacturing confidence is also dissolving, down 13.6 per cent in the quarter, to 119.3.
The third quarter of 2008 is the first time that China's business
confidence index has fallen below 130 points since the outbreak of SARS
in early 2003. The 100-point mark is seen as "a definition between
depression and prosperity," according to state media.
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