MNI China Consumer Indicator October 2013


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MNI China Consumer Indicator October 2013

  1. 1. London, 04 November 2013 MNI CHINA CONSUMER SENTIMENT EMBARGOED UNTIL 9.45 A.M. BEIJING TIME, 04 NOVEMBER 2013 China Consumer Indicator Rises to 95.7 in October from 92.4 in September Media Release Personal Finances Lead Rise The MNI China Consumer Indicator rose for the third consecutive month in October, led by a significant improvement in Current and Expected Personal Finances. The headline indicator rose to 95.7 in October from 92.4 in September, posting the highest reading since June as both current and future conditions increased. The recent rise in confidence mirrors the pick-up in the economy seen since the end of July and puts sentiment above the average of 93.9 for the past year and also the series average of 95.1. October’s gain in Consumer Confidence was led by continued improvement in confidence in both East China and Middle/West China, with the latter showing the largest increase. Among the three major cities, confidence rose in Guangzhou and Shanghai but fell sharply in Beijing. Perceptions of current business conditions improved for the third consecutive month in October to the highest since March. The Employment Indicator rose strongly in October moving further above the breakeven level, and leaving it in-line with the higher levels seen during the first half of the year. The Car Purchase Indicator also rose in October as consumers’ willingness to buy a car rose to the highest level for three years, a reflection of the improvement in households’ finances. Commenting on the data, MNI Indicators Chief Economist Philip Uglow said, “A significant number of respondents felt much better about their finances in October and there was a strong improvement in employment expectations.” “The rise in confidence over the past few months is further evidence that economic growth has stepped up a gear since July,” he added. - ENDS -
  2. 2. Page 2 For further information, please contact: Naomi Kim, Public Relations +1 212 669 6459 Arno Castanet, Marketing +44 (0)20 7862 7434 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 | | @MNIIndicators