China's Consumer Confidence Drops to 8640 Points in May 2024
Current Environment
Consumer confidence in China has taken a hit, falling to 8640 points in May 2024 from 8820 points in April.
Year-over-Year Comparison
This represents a year-over-year (YoY) change of -1.8%, indicating a slight decline in consumer sentiment.
The YoY change in consumer confidence has been relatively stable over the past year, with an average change of just 0.2 points.
Month-over-Month Comparison
In June 2024, the consumer confidence index in China dipped further to 862 points, a decrease of 2 points from the previous month.
The index has been fluctuating slightly over the past few months, with no clear trend emerging.
Historical Context
The current consumer confidence index of 862 points is below the historical average of 62801 points, indicating that consumers in China are generally less confident about the economy than they have been in the past.
The average median index value for consumer confidence in China is 862 points, suggesting that the current level of consumer confidence is around the historical average.
Conclusion
While consumer confidence in China has seen a slight decline in recent months, it remains close to historical averages.
It remains to be seen whether the current trend will continue, or if consumer confidence will rebound in the coming months.
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