What has happened to China's consumer confidence index and what does it indicate?

China's consumer confidence index has experienced a dramatic decline, dropping from 121.5 in January 2022 to 86.4 in December 2024. This sharp decrease of nearly 35 points over a three-year period signals significantly weakened consumer sentiment throughout the Chinese economy. This plummeting confidence level reflects broader economic concerns in China, particularly related to the struggling real estate sector. The decline indicates consumers are increasingly pessimistic about their financial prospects, which could lead to reduced spending and further economic challenges ahead.