Consumer confidence index is at historical highs
According to the latest China Consumer Confidence Survey conducted by the National Bureau of Economic Statistics of China, the China Consumer Confidence Index was 122.9 in May, unchanged from the previous month and 16.1 points higher than the average since 2012. The survey was conducted in 1998. The historical high range since. Among them, the satisfaction index reflecting consumers’ views on the current situation is 118.1, which is 0.6 points higher than the previous month and 16.7 points higher than the average since 2012. The expected index reflecting consumers’ perception of the future situation is 126.1, which is 0.4 lower than the previous month. Point, 15.8 points higher than the average since 2012.
In terms of urban and rural areas, the urban and rural consumer confidence index was 124.1 and 119.8 respectively, the town was 0.5 points lower than the previous month, and the rural area was 1.2 points higher. Among them, the urban consumer satisfaction index and the expected index were 119.5 and 127.1 respectively, the former was 0.3 points higher than the previous month, and the latter was 1.1 points lower; the rural consumer satisfaction index and expected index were 114.4 and 123.4 respectively, which were 1.2 higher than the previous month. And 1.3 points.
From the three constituent indices of the consumer confidence index, employment confidence, income confidence and consumer willingness index are all at historically high levels.
Looking at employment, consumers’ satisfaction with the current employment situation has increased from last month. In May, the employment confidence index was 126.4, a slight decrease of 0.1 points from the previous month and 19.0 points higher than the average since 2012. Among them, the employment satisfaction index and employment expectation index were 123.5 and 128.3 respectively, the former was 0.4 points higher than the previous month, and the latter was 0.4 points lower. The employment confidence index of urban and rural consumers was 126.3 and 126.4, respectively, and the towns were 0.9 points lower than the previous month and 1.9 points higher in the rural areas.
Looking at income, the consumer income satisfaction index has improved from last month. In May, the income confidence index was 120.9, a slight increase of 0.1 points from the previous month and 13.0 points higher than the average since 2012. Among them, the income satisfaction index and the income expectation index were 116.4 and 124.0 respectively, the former was 0.9 points higher than the previous month, and the latter was 0.3 points lower. The urban and rural consumer income confidence index was 123.0 and 115.7, respectively, and the town was flat with the previous month, and the rural area was 0.4 points higher than the previous month.
Looking at consumption, the current willingness of residents to consume has increased. In May, the consumer sentiment index was 114.3, 0.3 points higher than the previous month and 17.2 points higher than the average since 2012. The urban and rural consumer willingness index is 116.7 and 108.2 respectively, the town is 0.3 points lower than the previous month, and the rural area is 1.6 points higher. Regarding the main use of household money in the next six months, in May, the highest proportion of consumers’ choice was savings, which was 41.6%; followed by purchases of goods and services, which was 40.5%; again, investment stocks/funds/gold/banking Products and investment properties were 15.9% and 11.1%, respectively.
The China Consumer Confidence Survey selected 15 provinces (autonomous regions and municipalities) as representative sample areas, and conducted a monthly survey of urban and rural consumers by telephone survey. The monthly total sample size is 6,480 urban and rural consumers, including 4,560 towns and 1920 rural areas. The main contents of the survey include: consumers’ realistic judgments on China’s macroeconomic situation and employment, prices, housing prices and household income, and future expectations; judgments on the timing of consumer purchases and judgments on household savings.
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