FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Consumer sentiment in China slipped during the month of July, bouncing back to levels of May and remained well below the 10-year average. The survey was conducted over the first half of July, in the midst of global financial market turmoil following the surprise 'Brexit' fallout in the United Kingdom, but prior to recent severe flooding in Northern China.
The MNI China Consumer Sentiment Indicator fell by 1.6 percent to 114.0 in July from 115.9 in June as sentiment across all components pulled back. While sentiment remains above the 100 breakeven level, meaning optimists outnumber pessimists, it still lies below the series 10-year average of 119.7.
In addition, Household finances fell noticeably with Current Personal Finances down 2.3 percent on the month to 105.2 and expectations for the future falling 1.9 percent to 113.8. Business Conditions in One Year declined 0.7 percent to 117.5 from 118.4 in June while Business Conditions in Five Years eased to 131.3 from 132.0.
Further, Current Business Conditions Indicator picked up, rising to the highest level since January 2014, as consumers continued to see a positive impact from the authorities’ actions to stimulate growth. 'Business conditions vs a year ago' rose a further 2.2 percent in July after surging 5.2 percent in June to a new 2½ year high. Job security deteriorated however with the employment indicator down 2.7 percent, reversing about a quarter of the improvement seen over the previous four months.
"There are certainly a lot more negatives than positives that can be drawn from the July data, particularly the more downbeat readings on personal finances and the outlook for jobs," said Andy Wu, Senior Economist, MNI Indicators, Westpac.
Meanwhile, consumer attitudes towards real estate were steady, with the housing composite up 0.3 percent nationally and 1.3 percent above its long-run average. Assessments of 'time to buy' were more downbeat by 1.4 percent but house price expectations firmed by 1.2 percent.
