Chinese consumer sentiment dipped to 94.2 in March

As business outlook drew a sharp decline.

According to a release by the Market News International - Deutsche Boerse Group, Chinese consumer sentiment edged down in March, as an improvement in consumer attitudes on current conditions was more than offset by a drop in the outlook for the future.

The indicator inched down to 94.2 in March from 94.7 in February, but remained in the tight range seen since November. 

Sentiment on current conditions rose for the third straight month to the highest level since last June, with all components improving. 

But this was more than offset by a drop in future expectations, led by a sharp decline in the five-year business outlook to the lowest in survey history.

Consumers’ willingness to buy durable goods rose surged to 29-month high, while sentiment on purchasing a car rose for the third month in a row. 

Consumer attitudes on the real estate market gained for the third consecutive month, led by strong house purchasing sentiment. 

Sentiment on the stock market fell for the second consecutive month.