Comes in at 114.0, previously 115.9
WPAC comments:
- While overall the fall in sentiment is not large it again casts doubt about the sustainability of recent improvements
- Up until April there appeared to be a convincing upswing in confidence taking hold and spreading from expectations to more tangible improvements in current business activity, buying intentions and labour market conditions. The uptrend has lost its way since then and although consumers continue to report improving business conditions they appear less confident that gains will be sustained and less inclined to spend
- Whether Chinese consumer confidence weakens further or regains its upwards momentum in the months ahead will be a critical factor for economic activity, particularly while export sectors and investment activity remain soft
