Consumers still wary as finance outlook gloomy
Print Edition
CHINESE consumer sentiment fell further in February as a deteriorating outlook for personal finance eroded improving hopes for business and property market, according to a latest study.
The Westpac MNI China Consumer Sentiment Indicator dipped 0.1 percent from January to 112 this month, the Australian bank and German financial news company Market News International said in a joint report yesterday.
The decline throughout 2014 pushed the February reading very close to a record low of 110.8 posted in September 2011.
“While there has been a stabilization in confidence in recent months following the decline in 2014, sentiment remains at a historically low level and the accommodative policy stance still has a limited impact on respondents,” MNI Indicators Chief Economist Philip Uglow said.
The sentiment for current personal finances among higher-income households and the 55-to-64 age group fell to the lowest since December 2011.
A rising percentage of consumers said they were saving to purchase a home while sentiment on business conditions improved in February.
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