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Consumer sentiment up for 3rd consecutive month
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CHINA'S consumer sentiment rose for the third consecutive month in October, led by a significant improvement in both current and future personal financial conditions, a private report showed today.
The monthly measure of consumer confidence in China rose to 95.7 last month from 92.4 in September, posting the highest reading since June, Market News International, a unit of Deutsche Boerse Group, said in a report.
"A significant number of respondents felt much better about their finances in October and there was strong improvement in employment expectations," Philip Uglow, chief economist of MNI Indicators, said in the report.
"The rise in confidence over the past few months is further evidence that economic growth has stepped up a gear since July," he added.
According to the report, the gain in October was led by continued improvement in confidence in eastern, middle and western regions of China, with the latter showing the largest increase.
Among the three major cities, confidence rose in Guangzhou and Shanghai but fell sharply in Beijing.
The sub-index that measures people's willingness to purchase a car rose to the highest level for three years, a reflection of the improvement in household finances.
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