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Consumers optimistic about property, car and stock purchases
By Hu Xiaocen |
July 3, 2012, Tuesday
|
Online Edition
Online Edition
SENTIMENT about China's real estate market, car purchases and stock prices strengthened in June as consumers reacted positively to the interest rate cut and other economic stimulus measures announced by the government.
The MNI China Consumer Sentiment Indicator, published today by Market News International, a unit of Deutsche Boerse Group, pointed to a strong rebound in consumer confidence in June from the previous month.
The reading jumped to 101.6 in June from May's 90.4, and was the highest in 22 months, according to MNI's report.
A score above 100 indicates optimism and a score below 100 means consumers are pessimistic about the future.
The outlook for housing prices recovered strongly in June after dropping the previous month. The number of consumers saying it is a good time to buy a house rose in June, but fewer people thought it was a good time to sell.
Car purchase sentiment rebounded as well, after reaching a historical low in May. Lower gasoline prices and a modest new government subsidy plan contributed to the more bullish sentiment.
Confidence in stock prices inched up, while the outlook for the stock market over the next three months jumped to the highest level since November 2011.
Overall sentiment strengthened significantly for consumers in every region of China.
Satisfaction with current inflation continued to rise in line with a recent decline in the Consumer Price Index.
The survey was based on 1,004 interviews conducted in 30 cities across the country.
The MNI China Consumer Sentiment Indicator, published today by Market News International, a unit of Deutsche Boerse Group, pointed to a strong rebound in consumer confidence in June from the previous month.
The reading jumped to 101.6 in June from May's 90.4, and was the highest in 22 months, according to MNI's report.
A score above 100 indicates optimism and a score below 100 means consumers are pessimistic about the future.
The outlook for housing prices recovered strongly in June after dropping the previous month. The number of consumers saying it is a good time to buy a house rose in June, but fewer people thought it was a good time to sell.
Car purchase sentiment rebounded as well, after reaching a historical low in May. Lower gasoline prices and a modest new government subsidy plan contributed to the more bullish sentiment.
Confidence in stock prices inched up, while the outlook for the stock market over the next three months jumped to the highest level since November 2011.
Overall sentiment strengthened significantly for consumers in every region of China.
Satisfaction with current inflation continued to rise in line with a recent decline in the Consumer Price Index.
The survey was based on 1,004 interviews conducted in 30 cities across the country.
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