ecns [expanded by feedex.net]: Consumer confidence stabilizes in May, report says

ecns [expanded by feedex.net]

ecns

Consumer confidence stabilizes in May, report says
http://www.ecns.cn/business/2014/05-22/115456.shtml
May 22nd 2014, 08:06





2014-05-22 17:06 Shanghai Daily Web Editor: Si Huan


China consumer confidence stabilized this month but remains lukewarm due an increased risk of deflation, a private report showed.


The ANZ-Roy Morgan China Consumer Confidence Index dipped to 152.5 this month from 152.6 in April, the Australia and New Zealand Banking Group and Melbourne-based Roy Morgan Research said in a joint survey on Thursday.


"Consumer confidence has shown signs of stabilization, which could foretell a possible pick up in China's retail sales," Liu Ligang, ANZ's chief economist for China, said in the report.


"However, a further decline in inflation expectations suggests domestic demand remains lukewarm. This suggests the retail sales figure in May will not see a significant boost, either."


The report said respondents expected China's price level to rise 4 percent in the long term, compared with 5.2 percent in January and 4.5 percent in April.


In a separate report, ANZ said consumption will be boosted by structural reforms and will soon outstrip GDP growth. It projected that by 2020, China's private consumption will represent 44 percent of its GDP and will be around 70 percent of the size of the US consumer market, compared with just 40 percent now.





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