China: Nominal Consumption Expenditure per Capita (YoY)

Macro

2026-04-16

Description

China Nominal Consumption Expenditure per Capita is compiled and published by the National Bureau of Statistics (NBS) of China. This indicator measures the nominal year-over-year change in the average consumption expenditure of Chinese residents. It reflects the growth in consumer spending and serves as an important indicator for assessing residents' consumption capacity and economic vitality. An increasing year-over-year rate typically indicates rising consumer spending and more active economic activity, while a decreasing rate may suggest weakened consumption demand or sluggish income growth.

Published by
National Bureau of Statistics of China (Choice)
Frequency
Quarterly
Next Update
Hashtags
China Consumption

AI Data Insight

In the first quarter of 2026, the year-on-year growth rate of China's national nominal per capita consumption expenditure dropped to 3.6%, further slipping from the previous 4.4%, indicating that residents' willingness to consume remains at a trough. Although Q1 GDP beat expectations at 5.0%, consumption growth in both urban and rural areas lagged behind disposable income growth, reflecting that a defensive saving mentality remains strong. Looking ahead, amid real estate weakness and intensifying external risks, how to substantively boost domestic demand through policies will be key to the economic transformation.

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AI Data Insight

In the first quarter of 2026, the year-on-year growth rate of China's national nominal per capita consumption expenditure dropped to 3.6%, further slipping from the previous 4.4%, indicating that residents' willingness to consume remains at a trough. Although Q1 GDP beat expectations at 5.0%, consumption growth in both urban and rural areas lagged behind disposable income growth, reflecting that a defensive saving mentality remains strong. Looking ahead, amid real estate weakness and intensifying external risks, how to substantively boost domestic demand through policies will be key to the economic transformation.

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Macro
Description

China Nominal Consumption Expenditure per Capita is compiled and published by the National Bureau of Statistics (NBS) of China. This indicator measures the nominal year-over-year change in the average consumption expenditure of Chinese residents. It reflects the growth in consumer spending and serves as an important indicator for assessing residents' consumption capacity and economic vitality. An increasing year-over-year rate typically indicates rising consumer spending and more active economic activity, while a decreasing rate may suggest weakened consumption demand or sluggish income growth.

Published by
National Bureau of Statistics of China (Choice)
Frequency
Quarterly
Next Update
Hashtags
China Consumption