Chinese consumer sentiment crashes in August

MNI's China Consumer Sentiment Indicator falls to year-low level of 90.4.

MNI said the deteriorating indicator, which has slid from its June peak of 101.6 and July's 90.9, can be viewed as a negative response to ecconomic slowdown.

"Sluggish July economic data and a lack of new government policy stimulus contributed to the drop," it said.

"The current conditions indicator – due to a rise in sentiment on current personal financial conditions -- rose in August. However, future expectations fell, led by weaker outlooks for future business conditions," it added.

"Sentiment on the real estate market improved in August, with consumers expecting higher housing prices ahead. This indicator has fluctuated in a broad range in recent months. Sentiment on the stock market improved modestly but remained net pessimistic," it said further.