Zhejiang enterprise prosperity index declines

Affected by the global economic slowdown, the enterprise prosperity index for eastern China's Zhejiang province shed 10.1 points year-on-year to 122.6 in the third quarter, down 2.1 points quarter-on-quarter, according to figures released by the Zhejiang Provincial Bureau of Statistics.

The enterprise prosperity index was still at a relatively prosperous level, Xinhua.com reported on Sunday, citing local statistics.

An index reflecting Zhejiang enterprises' overall operation was 119.4 in the third quarter. Local entrepreneurs are generally bullish about their full year performance, with the projection index for business prosperity hitting 124.7 points in the fourth quarter, 5.3 points higher than the third-quarter reading.

In the third quarter, hotel and property were the only two industries in the eight major ones that witnessed rising prosperity readings from the preceding quarter. IT, transportation storage and postal services, construction, industry, wholesale and retail and the service industry all posted declines in the prosperity indexes. The service industry led the fall by losing 14.1 points from the second quarter.

"The province's majority industries have not walked out of a management plight in the third quarter. Most of these industries will expect an improved performance in the following quarter based on the third quarter figures," an analyst from the Zhejiang Provincial Bureau of Statistics was quoted as saying by Xinhua.com.

wang_ying@chinadaily.com.cn