Rebound seen in household sentiment
Print Edition
CHINESE household sentiment rebounded in November as the stock market recovered and the broader economy did not deteriorate, a survey showed yesterday.
The China Wealth Index, compiled by the Bank of Communications and research firm Nielsen every two months, was 122 last month. It rose from 111 in September — the worst in the survey’s five-year history.
A reading above 100 reflects optimism among the 1,877 households being tracked.
“People are no longer in panic after the stock market recovered following July’s rout,” chief economist at BoCom said.
“Meanwhile, although the broader economy remains weak, it did not deteriorate further as some people had feared.”
The component indexes showed people’s confidence in the broader economy rose 6 points to 109 last month while their household income added 17 points to 137 and their willingness to invest gained 8 points to 114.
“Earnings from the stock market helped the most in raising people’s income in the past two months,” Lian said.
But Lian said investors have grown cautious and now “they tend to diversify their investment, not only in the stock market, but in other options and real estate.”
The index on people’s willingness to buy property also rose 4 points to 105, with owners of at least three homes having a stronger desire to buy compared with owners of only one home or non-owners.
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