Consumer sentiment in China edged up to a six-month high in October as consumers' willingness to spend climbed, a private survey showed Wednesday.
The Westpac MNI China Consumer Sentiment Indicator rose to 117.1 in October from 115.2 in September, Westpac said in a statement.
The gains were led by hefty increases in the "Durable Buying Conditions" and "Current Household Finances" components, which offset small declines in "Expected Household Finances", "Business Conditions in One Year" and "Business Conditions in Five Years" sub-sets.
"Chinese consumer confidence is again showing promising signs of a sustained lift with the more positive picture on family finances and durables spend a welcome development particularly from the point of view of prospects for an associated lift in demand," said Matthew Hassan, senior economist at Westpac.
"That said, the lackluster picture on business conditions is clearly still a headwind feeding into consumer concerns about job security and a 'risk averse' attitude to spending and saving decisions," he said.