Nielsen survey shows flattening consumer spending

A survey published Thursday by Nielsen showed that Chinese consumer confidence rose in the first three months of 2012 to reach its the highest level since 2005, but willingness to spend on clothes, food, entertainment and holidays all dropped compared with the previous quarter, Reuters reported. Savings and education were the only areas in which Chinese survey respondents were willing to allocate additional cash in the first quarter. Rural consumers showed the greatest increase in consumer confidence, while confidence in China’s wealthiest cities, provincial centers and county seats remained flat. Nielsen surveyed 3,500 Chinese people to collect the data. Economic data in April showed a slowdown in China’s retail sales growth to 14.1%, the slowest growth in 14 months and below analyst expectations.