Car sales, builders smiling as business confidence rises in first quarter

Business confidence rose in the first quarter of 2022, from an unchanged 43 points in the fourth quarter to 46, almost at the neutral level of 50 in the second half of last year. New vehicle dealers, wholesale trade and manufacturing all showed improvement. According to the RMB/BER Business Confidence Index (BCI), the 46 points is encouraging as it matches the long-term average of the BCI. It is also different from the low of 5 recorded at the height of the Covid-19 pandemic in 2020. The survey was carried out between February 9 and February 28 among 1,300 senior managers in construction, industry, …