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Consumer confidence highest in a year
By Hu Xiaocen |
July 3, 2013, Wednesday
|
Online Edition
Online Edition
CHINESE consumer confidence rose modestly last month with sentiment improving over both current conditions and future expectations, Market News International (MNI), a unit of Deutsche Boerse Group, said in a report today.
The MNI China Consumer Sentiment Indicator, a monthly measure of consumer confidence in the country, increased to 97.3 in June from 94.4 in May, breaking out of a very narrow range that fluctuated at around 95 since last November and reaching its highest level since June 2012.
The rise in sentiment over current conditions and in future expectations was due in large part to a decreasing number of respondents complaining about situations worsening rather than seeing an improvement, according to the report.
Therefore the gain in Chinese consumer confidence may be short-lived. Also, the rising sentiment in June could be seasonal in nature, said MNI.
Consumers' willingness to buy a car recovered marginally after falling for two months.
Consumer attitudes in the real estate market fell for the second month in a row.
Sentiment over the stock market improved marginally but still fluctuated within a very narrow range.
The MNI China Consumer Sentiment Indicator, a monthly measure of consumer confidence in the country, increased to 97.3 in June from 94.4 in May, breaking out of a very narrow range that fluctuated at around 95 since last November and reaching its highest level since June 2012.
The rise in sentiment over current conditions and in future expectations was due in large part to a decreasing number of respondents complaining about situations worsening rather than seeing an improvement, according to the report.
Therefore the gain in Chinese consumer confidence may be short-lived. Also, the rising sentiment in June could be seasonal in nature, said MNI.
Consumers' willingness to buy a car recovered marginally after falling for two months.
Consumer attitudes in the real estate market fell for the second month in a row.
Sentiment over the stock market improved marginally but still fluctuated within a very narrow range.
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