Consumer confidence in China has reached higher than its pre-pandemic level, tech company Morning Consult said in a report released on April 15, citing the company's Index of Consumer Sentiment in China.
Morning Consult's Index of Consumer Sentiment in China read 156.85 for the first 13 days of April, up 2.36 points from March. This compares with the pre-pandemic figure of 153.14 for the month of October 2019, Morning Consult economist John Leer wrote in the report.
April's increase builds on the 5.54-point improvement in March, the second-largest monthly increase over the past 18 months. The improvements in March and April provide a clear indication Chinese consumers have emerged from the pandemic even more confident than they were before.
Strong and increasing consumer spending will continue through the end of the second quarter in China, signaled by increases in consumer confidence in March and April.
Chinese consumers have been a source of strength for the Chinese economy over the past 18 months, showing the country is focusing more on its domestic consumer base.