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China per capita spending rises more slowly than income, Caixin notes

China per capita spending rises more slowly than income, Caixin notes
China income outpaces consumer spending rise

Per capita disposable income in China rose 5.3% year-on-year in nominal terms during the first three quarters, while per capita consumer spending increased by only 3.6%, according to Caixin. The report said Chinese consumers remained reluctant to spend during this period.

Michael Pettis, an economist and professor of finance, shared the update.

Earlier this year, Michael Pettis reported that China reduced its total number of banks by nearly a quarter with more than 670 closures. He also noted that rising debt levels have constrained the government’s fiscal capacity for new economic stimulus. These developments provide further context to current caution among Chinese consumers.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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