The Financial Times Confidential Research (FTCR) China Consumer Index rose to a five-month high in February as measures of household incomes and sentiment towards the economy hit their highest levels in more than two years. The headline index was 3.4 points above the average for the previous 12 months, while this was the best February reading since 2013. Although our Discretionary Spending Index was notable for falling relative to January, it was comfortably higher than last February’s reading and well above the average for the past year. Consumers said their discretionary spending was higher than during the same month last year. The FTCR Discretionary Spending Index fell 1.1 points month on month to 74.7 but was up 2.7 points year on year. The FTCR Household Income Index rose 1.2 points month on month and 7.2 points year on year to 75.6 in February.
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