Chinese Consumers are Still Spending Despite Economic Woes
As China’s economic growth slows and its stock market remains turbulent, consumers are still willing to spend as confidence remains high, according to recent data.
Nielsen’s newly released “China Consumer Confidence Index” for Q4 of 2015 find that Chinese consumer confidence actually went up a point during the time period, despite the fact that China’s economic growth rate slowed to a 25-year low in 2015 and the stock market remained volatile. The confidence rating of 107 is higher the the global average of 97, and is above the United States’ 100 and Germany’s 98. In addition, Nielsen finds China currently has one of the lowest levels of “recessionary sentiment,” or a belief that the country is in recession in the most recent quarter compared to the previous one. At 29 percent, this sentiment was far lower than the United States, where 47 percent believed they saw a recession.