China’s consumer confidence index has fallen to approximately 90 points, marking one of the lowest levels on record and remaining significantly pessimistic for the past four years. This drastic shift is largely attributed to the bursting of China’s housing bubble, which has seen home sales by floor area plummet to 50% below 2021 levels. Despite government efforts to stimulate the economy and stabilize the property market, consumer sentiment remains notably depressed, reflecting ongoing caution in the wake of these economic challenges.
China’s consumer confidence index hit historic low amid housing downturn
