The February consumer sentiment index value of China - Westpac-MNI Chinese consumer sentiment index - showed a decline of 3.1% in February to a level of 111.3 - such minimum levels could be seen in October 2015 - on AMarkets materials.
The expectations on the growth of the Chinese sub-component - personal financial well-being - decreased by 1.3% to 100.7 - the lowest since May 2015. Expectations for the more distant future have fallen even lower - 3.7%. Subcomponent of consumption of durable goods in the country fell by 4.7% to 99.8 - it is, in general, a 9-year low. All this is very bad considering the fact that the Chinese authorities are doing everything possible to reorient the economy from exports to domestic consumption.
Schedule - dynamics Westpac-MNI Chinese consumer sentiment index index in relation to key events in the Chinese economy: