MNI China Consumer Sentiment - Media Release February 2014

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Information about MNI China Consumer Sentiment - Media Release February 2014
Finance

Published on March 4, 2014

Author: MNIIndicators

Source: slideshare.net

Description

London, 4 March 2014 MNI CHINA CONSUMER SENTIMENT EMBARGOED UNTIL 9.45 A.M. BEIJING TIME The MNI China Consumer Indicator fell for the second consecutive month in February to the lowest level for six months, led by a decline in consumers’ optimism about their current personal finances.

London, 4 March 2014 MNI CHINA CONSUMER SENTIMENT EMBARGOED UNTIL 9.45 A.M. BEIJING TIME, 4 MARCH 2014 China Consumer Indicator Falls to 91.5 in February from 95.1 in January Media Release Lowest Since August 2013 The MNI China Consumer Indicator fell for the second consecutive month in February to the lowest level for six months, led by a decline in consumers’ optimism about their current personal finances. The decline in the Consumer Indicator to 91.5 in February from 95.1 in January, the lowest reading since August 2013, may well have been due to the recent concerns about the shadow banking system and especially the default of Wealth Management Products. Both current conditions and future expectations fell in February, with the latter showing a larger decline. The Current Personal Finances Indicator fell 4.8% on the month and posted the lowest reading since September. The Current Business Conditions Indicator fell 1.4% on the month in February, the second consecutive monthly decline and the lowest reading since September. The Employment Outlook Indicator fell for the second consecutive month, down from the one and half year high seen in December. In spite of the latest fall in sentiment, the Real Estate Investment Indicator rose for the second consecutive month to the highest since June 2012. Also, the Car Purchase Indicator increased in February, as more consumers see the next 12 months as a good time to buy a car. Commenting on the data, Chief Economist for MNI Indicators Philip Uglow said, “Chinese consumers seemingly underwent a reality check in February as sentiment fell to the lowest for six months.” “It’s too early to tell if this latest fall is the start of a new downward trend, but weaker growth and concerns over the financial sector are weighing down on confidence.” he added. - 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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