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China's consumer confidence still high in December
By Hu Xiaocen |
January 4, 2013, Friday
|
Online Edition
Online Edition
CONSUMER sentiment in China remained stable in December after rising for two months in a row, while expectations for long-term growth rose to the highest since June, a private survey showed today.
The MNI index, a monthly measure of consumer confidence in China, slipped to 95.4 last month from 95.5 in November, but remained the second highest since June, said the Market News International (MNI), a unit of Deutsche Boerse Group, in a report released today.
But the consumer sentiment diverged among regions and age groups. The reading gained in northeast, central and western China but fell in the central and southern parts of east China. Confidence rose among young and middle-aged respondents, but fell among older consumers.
Expectations for business conditions in one-year and five-year outlook went in different directions. The short-term outlook dropped while the five-year outlook increased to the highest level since June, said the MNI report.
Consumers' willingness to buy large household items and cars eased in December but remained relatively strong, while their willingness to buy real estate properties dropped as price expectations fell sharply, according to the report.
Confidence on the stock market gained for the second consecutive month after the Shanghai Composite Index rallied 14.6 percent in December, MNI said.
The MNI index, a monthly measure of consumer confidence in China, slipped to 95.4 last month from 95.5 in November, but remained the second highest since June, said the Market News International (MNI), a unit of Deutsche Boerse Group, in a report released today.
But the consumer sentiment diverged among regions and age groups. The reading gained in northeast, central and western China but fell in the central and southern parts of east China. Confidence rose among young and middle-aged respondents, but fell among older consumers.
Expectations for business conditions in one-year and five-year outlook went in different directions. The short-term outlook dropped while the five-year outlook increased to the highest level since June, said the MNI report.
Consumers' willingness to buy large household items and cars eased in December but remained relatively strong, while their willingness to buy real estate properties dropped as price expectations fell sharply, according to the report.
Confidence on the stock market gained for the second consecutive month after the Shanghai Composite Index rallied 14.6 percent in December, MNI said.
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