Chinese consumer sentiment improves due to better outlook

By Ding Yining | September 28, 2016, Wednesday |

Online Edition

CHINESE consumer sentiment rebounds this month, thanks to improvement of employment outlook and better expectations for personal finances, a latest survey shows.

The Westpac MNI China Consumer Sentiment Indicator rose 3.3 percent to 115.2 in September from 111.5 in August, the highest level since June, compiler Market News International said today.

The sub-category that sees the largest upgrade is expected for Personal Finances and Business Conditions in One Year.

Both long and short term measures of expected business conditions made solid gains in September, and out of those who thought business conditions over the year would improve, 32.1 percent cited supportive government policy as the main reason for optimism.

Senior Economist of MNI Indicators Andy Wu said, “The September data is encouraging and the results hint at some resilience in sentiment which might suggest spending may not be quite as weak as feared."

The improvement for household finances and business conditions were supported by the improvement of expectation for the labor market, with the Employment Outlook Indicator, which increased for the first time in four months, rebounding 8 percent to 99.5 in September.

"Even with a recovery sentiment is still at a low level overall and yet to establish a convincing recovery," commented Westpac Senior Economist Matthew Hassan, "and although the improvement in labor market expectations is an important positive, much of the detail, especially spending and saving behavior, points to more lackluster growth for consumer sectors near term."

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Chinese consumer sentiment improves due to better outlook

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