PBOC Survey Finds Less Dissatisfaction With Price Levels
First Published Tuesday, 20th March 2012 09:27 am - © 2012 Dow Jones
-- PBOC quarterly survey of urban depositors finds less dissatisfaction with inflation
-- Survey finds slightly less dissatisfaction with property prices
-- Bankers and business leaders show increased business confidence
(Recasts the second paragraph; adds findings from the PBOC survey of enterprises and bankers from the seventh paragraph.)
BEIJING -(Dow Jones)- A quarterly survey by China's central bank found that urban depositors remain dissatisfied with inflation and property prices, but less so than in the last quarter.
The survey by the People's Bank of China, released Tuesday, found that 62.9% of respondents felt that prices were "high and hard to accept," in the first quarter, down 5.9 percentage points from the previous quarter.
The survey's inflation expectations index fell 3.3 percentage points to 62.1%.
The number of respondents who feel that property prices are "too high" fell 5.2 percentage points to 67.7%.
However, in an ominous sign for the property market, just 14.1% of respondents said they wish to buy an apartment over the next three months, the lowest level since 1999.
The PBOC's separate surveys of banks and enterprises were more hopeful, pointing toward increasing confidence in the macro-economy. But the survey of bankers found less demand for bank loans.
The survey of enterprises showed the economic confidence index rose 1.8 percentage points from the previous quarter to 70.2%, the first on-quarter rise since the first quarter of 2011.
The same survey showed that the index of export orders fell 1.8 percentage points on quarter to 46.9%, but the export orders expectation index rose 3.1 percentage points from the previous quarter to 52.1%.
Bankers surveyed by the PBOC also showed increasing confidence toward the macro-economy, with the macro-economic confidence index rising 5.6 percentage points to 65%.
The survey of bankers found moderating loan demand in the first quarter, with the loan demand index falling 0.3 percentage point from the previous quarter to 79.6%.
-Aaron Back, Eliot Gao and Liyan Qi contributed to this article, Dow Jones Newswires; (86 10) 8400-7718; liyan.qi@dowjones.com





