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Chinese consumers less optimistic in April
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Chinese consumer sentiment eased slightly in April, while a range of spending gauges improved thanks to a better outlook for retail sales and consumption expenditure in general, a latest study shows.
The Westpac MNI China Consumer Sentiment dipped 0.3 percent in April to 117.8 from 118.1 a month ago, according to the survey released today by Market News International, a unit of the Deutsche Boerse Group.
The pull back in the consumer sentiment was led by a fall in business condition expectations as well as concern about their personal finances, as the expected personal finances indicator fell 1.8 percent to 116.1 in April.
On the positive side, current personal financial situation indicator climbed to 110.3, the highest level since May 2014.
The sub-components for dining out and shopping (leisure spending and durable goods alike) climbed to the highest level since early 2014.
Optimism over the housing market faded marginally in April with the House Price Expectation component down 3.3 percent to 120.1 following a series of measures to contain real estate market imbalance.
"The first few months of 2016 have registered a solid lift in sentiment along with increasingly positive readings on housing and spending related components, but weakness in business condition stays and it remains to be seen how well the improved mood is sustained," said Westpac Senior Economist Matthew Hassan.
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