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ANZ-Roy Morgan Chinese Consumer Confidence picks up in April
April 20 2016
- Finding No.
Consumer Confidence Press Release
The ANZ-Roy Morgan China Consumer Confidence survey elicits respondents' expectations of inflation and prices. Data in April was collected from a sample of 1,000 Chinese aged 14+ (12,000 per annum) by telephone. The survey is conducted in metropolitan and outer urban areas - not only are 1st, 2nd and 3rd Tier cities included, but Tier 4 cities are also surveyed every month. The robust, representative sample is stratified geographically, with quotas controlled by gender and age.
ANZ Chief China Economist (Acting) Raymond Yeung said:
- The ANZ-Roy Morgan China Consumer Confidence Index rose to 145.0 in April, up from 138.0 in in the previous month.
- In terms of personal finances, 46.9% (prev: 41.7%) of the respondents said that their families are ‘better off’ financially. Meanwhile, 16.3% (prev: 20.3%) said that they are ‘worse off’. On their personal financial situations, 68.7% (prev: 65.6%) expected their families to be ‘better off’ next year, compared with 5.4% (prev: 8.2%) who expected themselves to be ‘worse off’.
- On economic conditions, respondents who expect China to have ‘good times’ over the next year rose to 56.1% (prev: 49.7%), while respondents who expect economic ‘bad times’ declined to 14.0% (prev: 20.0%). On longer-term economic performance, 63.9% (prev: 62.1%) expect China to have ‘good times’ and 14.9% (prev: 18.5%) said that there will be ‘bad times’.
- The number of respondents who said that ‘it is a good time’ to buy major items declined to 46.3% (last 47.6%), while the number of respondents who felt that ‘it is a bad time’ to do so dropped to 6.4% (last 9.7%).
- Inflation expectations eased modestly to 4.02% (prev: 4.14%) in April.
“The rebound in our sentiment indicator is encouraging. Our survey results are consistent with the recent theme of China’s stabilisation. During the month, respondents have become more optimistic about the prospects of the broader economic conditions as well as their personal financial conditions.
"The data also aptly illustrates our projection of China’s rising middle class. The Chinese economy seeks rebalancing. Therefore, maintaining consumers’ spending appetites will not only underpin the shift of domestic demand from investment to consumption, but also benefit other economies, from Japan to Australia, that can expect to receive an increasing influx of Chinese tourists. This should provide some relief to countries who are concerned about the impact of China’s slowdown.”
Click to view the latest ANZ-Roy Morgan Chinese Consumer Confidence Release PDF - April 2016.
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