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ANZ-Roy Morgan Chinese Consumer Confidence declined in March to 138.0

The ANZ-Roy Morgan China Consumer Confidence survey elicits respondents' expectations of inflation and prices. Data in March 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-Roy Morgan China Consumer Confidence Index declined to 138.0 in March, from 139.2 in the previous month.

  • In terms of personal finances, 41.7% (last 42.8%) of respondents said that their families are ‘better off’ financially. Meanwhile, 20.3% (last 18.4%) said that they are ‘worse off’. On the outlook for personal financial situation, 65.6% (last 58.0%) expected their families to be ‘better off’ next year, compared with 8.2% (last 5.6%) who expected conditions to be ‘worse off’.

  • On economic conditions, respondents who expect China to have ‘good times’ over the next year declined to 49.7% (last 53.2%), while respondents who expect economic ‘bad times’ rose to 20.0% (last 19.5%). On longer-term economic performance, 62.1% (last 67.4%) expect China to have ‘good times’ and 18.5% (last 16.9%) said that there will be ‘bad times’.

  • Respondents who said that it is a ‘good time’ to buy major items rose to 47.6% (last 44.8%), while respondents who said that it is a ‘bad time’ to do so edged down to 9.7% (last 10.0%).

  • Inflation expectations rose further to 4.14% (last 3.80%) in March.
ANZ Senior Economist Raymond Yeung:

“The drop in ANZ-Roy Morgan China Consumer Confidence in March largely reflects the more pessimistic view on the economic outlook. Respondents to the survey appear to be less confident on both short-term and long-term growth. However, the March survey also shows an improvement in expectations of personal financial situation in the next 12 months, possibly driven by the warm-up of property market.

"Given that China’s leadership has set aggressive economic targets this year amid slowing global growth, we believe that further monetary policy easing is needed. However, the rapid increase in property prices in first-tier cities may have become a key consideration for the central bank’s monetary policy decision. Thus, we expect more selective property

ANZ-Roy Morgan Chinese Consumer Confidence - March 2016 - 138.0

ANZ-Roy Morgan Chinese Consumer Confidence Rating - March 2016 - 138.0

Click to view the latest ANZ-Roy Morgan Chinese Consumer Confidence Release PDF - March 2016.

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The latest Roy Morgan Consumer Confidence Monthly Report is available on the Roy Morgan Online Store. It provides demographic breakdowns for Age, Sex, State, Region (Capital Cities/ Country), Generations, Lifecycle, Socio-Economic Scale, Work Status, Occupation, Home Ownership, Voting Intention, Roy Morgan Value Segments and more.

You can also view our monitor of Monthly Australian Unemployment & Under-employment Estimates.