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Consumer sentiment dips ahead of Spring Festival holiday
By Hu Xiaocen |
February 4, 2013, Monday
|
Online Edition
Online Edition
CONSUMER sentiment dropped in China ahead of the Chinese New Year holiday due to a decline in confidence about the long-term economic outlook, a private report showed.
The monthly indicator dropped to 94.1 in January from 95.4 in December, Market News International, a unit of Deutsche Boerse Group, said in a report today.
The report attributed the lower overall reading to the declining sub-index that tracks long-term economic outlook, which fell from 95 to 92 after rising for four straight months.
Consumers' willingness to buy durable goods remained stable at a high level last month, but their willingness to buy cars dropped sharply due to concerns about affordability, the report said.
The outlook for the stock market rose sharply to its highest level since February 2011 as the stock market gained almost 20 percent since last December. The number of individual investors reporting stock market investment profits in the past three months soared in January while those reporting losses fell sharply.
The survey was conducted from January 4 to 18, with 1,002 surveys completed.
The monthly indicator dropped to 94.1 in January from 95.4 in December, Market News International, a unit of Deutsche Boerse Group, said in a report today.
The report attributed the lower overall reading to the declining sub-index that tracks long-term economic outlook, which fell from 95 to 92 after rising for four straight months.
Consumers' willingness to buy durable goods remained stable at a high level last month, but their willingness to buy cars dropped sharply due to concerns about affordability, the report said.
The outlook for the stock market rose sharply to its highest level since February 2011 as the stock market gained almost 20 percent since last December. The number of individual investors reporting stock market investment profits in the past three months soared in January while those reporting losses fell sharply.
The survey was conducted from January 4 to 18, with 1,002 surveys completed.
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