MNI China Consumer Press Release January 2014

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Information about MNI China Consumer Press Release January 2014
Finance

Published on February 4, 2014

Author: MNIIndicators

Source: slideshare.net

Description

The MNI China Consumer Indicator fell in January from an 18-month high in December, ending a run of five consecutive monthly rises led by a decline in consumers’ expectations for the future.

London, 4 February 2014 MNI CHINA CONSUMER SENTIMENT EMBARGOED UNTIL 9.45 A.M. BEIJING TIME, 4 FEBRUARY 2014 China Consumer Indicator Falls to 95.1 in January from 97.5 in December Media Release Fall in Future Expectations Hits Sentiment The MNI China Consumer Indicator fell in January from an 18-month high in December, ending a run of five consecutive monthly rises led by a decline in consumers’ expectations for the future. The Consumer Indicator fell to 95.1 in January from 97.5 in December, the lowest reading since September. The latest drop left sentiment bang in-line with the average of the series since it began in 2007 and a little above the 94.1 average recorded in 2013. Both current conditions and future expectations deteriorated in January, with the latter leading the decline. Expectations fell as sentiment about future personal finances and business conditions declined. The Employment Indicator fell sharply in January from an 18-month high in December. In line with the slowdown in inflation to a one and a half year low, our survey participants were less dissatisfied about the current level of prices in January than in December. Commenting on the data, Chief Economist for MNI Indicators Philip Uglow said, “Consumer sentiment finally turned down in January following gains since the summer of 2013. Confidence, though, still remains at a relatively high level and well above the low seen a few years ago.” “The question now is whether consumer confidence can be maintained with growth at a lower, more sustainable, level. Concerns over excessive debt and possible default on investment trust products have the potential to spook consumers over the coming months.” - ENDS - media@mni-indicators.com | www.mni-indicators.com | @MNIIndicators

Page 2 For further information, please contact: Naomi Kim, Public Relations naomi.kim@deutsche-boerse.com +1 212 669 6459 Editorial Content: Philip Uglow, Chief Economist, MNI Indicators Notes to Editors Please source all information to MNI Indicators. Media Release The MNI China Consumer Sentiment Survey is a wide ranging monthly survey of consumer confidence across eastern, central and western China. Data is collected through computer aided telephone interviews (CATI), with each interviewee selected randomly by computer. At least 1,000 interviews are conducted each month from 30 first, second and third tier cities. The survey adopts a similar methodology to the University of Michigan survey of U.S. consumer sentiment. The main MNI China Consumer Indicator is derived from five questions, two on current conditions and three on future expectations: 1) Current personal financial situation compared to a year ago 2) Current willingness to buy major household items 3) Personal financial situation one year from now 4) Overall business conditions one year from now 5) Overall business conditions for the next 5 years The China Consumer Indicated is based to April 2007 = 100 Indicators relating to specific questions in the report are diffusion indices with 100 representing a neutral level, meaning positive and negative answers are equal. Values above 100 indicate increasing positivity while values below show increasing negativity. About MNI Indicators MNI Indicators, part of Deutsche Börse Group, offers unique macro-economic data and insight to businesses and the investment community. We produce data and intelligence that is unbiased, pertinent and responsive. Our data moves markets. For more information, visit our website at www.mni-indicators.com. media@mni-indicators.com | www.mni-indicators.com | @MNIIndicators

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