Chinese consumer sentiment improved in July, according to a closely-watched monthly survey, although the result is still far off those recorded during the country's rapid economic expansion in the noughties.
The Westpac MNI China Consumer Sentiment Indicator rose to 114.5 in July, from a reading of 112.3 in June. It was the third consecutive month of improvement.
Coinciding with the beginning of China's equity rout, the monthly report also gives a sense of how turmoil in the stockmarket is affecting ordinary Chinese households - and the answer (overall) is: not much. From the statement:
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