Income confidence index of urban depositors China Q1 2019-Q1 2023
In the first quarter of 2023, the income confidence index value of urban depositors in China was 49.9. Since the index value was above 50 for the years 2018 and 2019, urban depositors in China had on average positive expectations about the future development of their income. However, in the first quarter of 2020, the index value did not cross the 50 threshold which indicated that the respondents on average had negative income expectations. The same quarter saw the outbreak of COVID-19 in China which could have had an impact on income expectations. The confidence index has again fallen below the 50 percent in Q2 2022.
