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Chinese consumer sentiment remains at low level, survey says
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CHINESE consumer sentiment remained almost unchanged in November from a month ago with growing pessimism about business conditions offset by slight improvement in household finance sentiment, a latest study shows.
The Westpac MNI China Consumer Sentiment Indicator was at 111 compared with 110.9 in October after falling for three consecutive months, the Australian bank and the German financial news company Market News International said in a joint report.
Sentiment on the job market improved for the first time in six months, with employment outlook indicator recovering to the highest level in four months. There were also signs of stabilization in the housing sector with house buying sentiment improving for the first time in seven months and house price expectations increasing for the first time since July.
"Confidence remains at a historically low level and it is far too early to conclude that the trend decline has run its course," chief economist of MNI Indicators Philip Uglow commented.
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