China's consumer sentiment rebounded to 94.7 in February

It's a "wait and see" attitude for Chinese consumers.

Chinese consumer sentiment rebounded modestly in February, helped by the week-long Chinese New Year holiday, according to the MNI China Consumer Sentiment Indicator released Monday.

The indicator rebounded to 94.7 in February from 94.1 in January.

Details of the data indicate that consumers are increasingly taking a “wait and see” attitude toward the immediate future, waiting for new information about the economy and about the policies from the new government that will take office this month.

All sub-indicators of the Consumer Indicator except the outlook for personal finances rose during February, with overall future expectations increasing more than current conditions. Sentiment on current personal finances inched up in February, while the outlook for that category fell for the second month in a row.

Sentiment improved in all regions of eastern China but weakened in the central and western region.

Consumers’ willingness to buy durable goods and to buy cars both improved marginally in February.

Sentiment on the real estate market picked up for the second month in a row, with the outlook for house prices rising to its highest level since June last year.

Sentiment on the stock market corrected after three consecutive monthly increases.