Consumer sentiment improves, says private report

By Hu Xiaocen | May 28, 2014, Wednesday |

Online Edition

China consumer sentiment rose for the second consecutive month in May amid growing confidence the authorities will take action to support growth, a private report showed.

The Westpac MNI China Consumer Sentiment Indicator increased to 121.2 this month from 117.3 in April, showing an improvement after three straight months of declines, the Australian bank and the German financial news company Market News International said in a joint report today.

Confidence had been hit recently by concerns over the economy and the health of the financial system. A raft of minor stimulus measures in early April combined with steps to ensure the availability of mortgage loans appear to have boosted sentiment, the report said.

“While an undercurrent of caution still remains, the survey indicates that the anxieties gnawing away at the Chinese consumer through the first four months of the year lessened considerably in May,” said Huw McKay, Westpac’s senior international economist.

“Encouragingly, the outlook for employment took a turn for the better in May, consistent with the improvement in responses regarding business conditions and family finances,” he added.

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Consumer sentiment improves, says private report

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