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Car sales, manufacturers smile as business confidence soars in Q1

Business confidence rose in the first quarter of 2022 from an unchanged 43 points in the fourth quarter to 46, close to neutral 50 in the second half of last year. New car dealerships, wholesale and manufacturing all showed improvement. According to the RMB/BER Business Confidence Index (BCI), the 46 points is encouraging as it is equal to the long-term average of the BCI. It is also different from the low of 5 at the peak of the Covid-19 pandemic in 2020. The survey was conducted between February 9 and 28 of 1,300 senior executives in construction, manufacturing,…

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