A survey published on Monday by the National Bureau of Statistics (NBS) said that only 16 percent of Chinese consumers believed that it is an appropriate time to buy commercial houses, down two percentage points compared with June.

The NBS survey also showed that only 10 percent of the respondents held that it is the right time to purchase cars, down three percentage points compared with three months ago.

China's auto industry has continued on the path of negative growth that started at the end of 2004 after the government restricted credit to brake the industry's over-investment. Meanwhile, consumers have been reluctant to buy cars due to skyrocketing oil prices.

The consumer satisfaction index on the current national economywas at 92.8 points, one points less than that in June, the survey showed.

The consumer confidence index reached 94.3 points in September,0.3 points less than in June.

But the NBS survey also indicated that consumers are more optimistic over future economic growth with the consumer confidence index rising from 95.1 points in June to the current 92.8 points.

NBS figures showed 62 percent of consumers held that their income would be higher or equal to the present income while 54 percent, up two percentage points, expected that the overall economy would maintain fast growth.

Source: Xinhua