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Consumer sentiment rises for 4th straight month
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CHINA’S consumer sentiment rose for the fourth consecutive month in November, as optimism about the economy’s future followed the recent pick-up in economic activity, a private report showed today.
The monthly measure of consumer confidence rose to 96.6 in China last month from 95.7 in October, posting the highest reading since June, Market News International (MNI), a unit of Deutsche Boerse Group, said in a report today.
It is possible that the third plenum of the Chinese Communist Party’s 18th Central Committee, which announced a number of measures to reform the economy, boosted consumer optimism, according to the report.
“The largely positive reaction to the reform announcements, following the third plenum of the Chinese Communist Party’s Central Committee, could further support confidence ahead,” said Philip Uglow, chief economist of MNI Indicators.
Current personal finance conditions improved slightly. Consumers felt it was the best time to buy a large consumer durable product since March.
The sub-index that measures employment conditions fell slightly for the first time in four months, but remained up from the summer lull.
Consumers were more dissatisfied with the current level of prices, although the indicator measuring inflation expectations eased for the fourth consecutive month.
Expectations that housing prices would go up continued to rise in November.
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