Consumers gloomy on income front
The economic downturn cast a gloom on consumer confidence although it remained unscathed till December, according to a recent survey.
"The next half-year will likely see a large drop in consumer confidence, especially personal financial standings," said Ngan Ly, research director, Ipsos China, a market research firm.
The company conducted a survey between November and December covering 2,400 female respondents in five major cities including Shanghai, Beijing and Guangzhou.
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