Consumer confidence climbs 3 points in Q1
Print Edition
CONSUMER confidence in China in the first quarter climbed 3 points from a year ago but remained at the same level as in the prior three-month period, a latest study suggests.
The Chinese Consumer Confidence Index stood at 111 points in the first quarter, higher than the global average of 96, boosted by healthy growth of disposable income for both rural and urban residents, market research firm Nielsen said yesterday.
Nielsen said sales of fast-moving consumer goods in the Chinese market climbed 8 percent in the first three months this year, higher than the 6 percent increase in the same period of last year.
The survey indicated that personal digital appliances top Chinese consumers’ shopping list, ahead of home appliances.
The midwest region accounted for 17 percent of China’s overall FMCG retail sales, and it grew at a much faster pace of 14 percent, with consumer sentiment remaining vibrant.
“Chinese consumers are ready to spend more as they move up the consumption ladder,” according to Yan Xuan, president of Nielsen China.
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