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.
Income confidence index of urban depositors in China from 1st quarter 2019 to 1st quarter 2023
A diffusion index indicates urban depositors' expected future income in the observed quarter. The index is derived by calculating the proportions of respondents who expect that their income will "increase", "remain the same", and "decrease", and assigning weights 1, 0.5, and 0 to them respectively. Finally, the average value is calculated.
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People's Bank of China. (April 3, 2023). Income confidence index of urban depositors in China from 1st quarter 2019 to 1st quarter 2023 [Graph]. In Statista. Retrieved December 22, 2024, from https://www.statista.com/statistics/1127846/china-income-confidence-index-of-urban-depositors/
People's Bank of China. "Income confidence index of urban depositors in China from 1st quarter 2019 to 1st quarter 2023." Chart. April 3, 2023. Statista. Accessed December 22, 2024. https://www.statista.com/statistics/1127846/china-income-confidence-index-of-urban-depositors/
People's Bank of China. (2023). Income confidence index of urban depositors in China from 1st quarter 2019 to 1st quarter 2023. Statista. Statista Inc.. Accessed: December 22, 2024. https://www.statista.com/statistics/1127846/china-income-confidence-index-of-urban-depositors/
People's Bank of China. "Income Confidence Index of Urban Depositors in China from 1st Quarter 2019 to 1st Quarter 2023." Statista, Statista Inc., 3 Apr 2023, https://www.statista.com/statistics/1127846/china-income-confidence-index-of-urban-depositors/
People's Bank of China, Income confidence index of urban depositors in China from 1st quarter 2019 to 1st quarter 2023 Statista, https://www.statista.com/statistics/1127846/china-income-confidence-index-of-urban-depositors/ (last visited December 22, 2024)
Income confidence index of urban depositors in China from 1st quarter 2019 to 1st quarter 2023 [Graph], People's Bank of China, April 3, 2023. [Online]. Available: https://www.statista.com/statistics/1127846/china-income-confidence-index-of-urban-depositors/
