In China, people's plans to save climbed to a record high as job worries grow
That's a jump from 54.7% in the first quarter, which already marked the highest on record for data going back to 2002.
Education remained the most popular category for Chinese consumer's planned spending, according to a People's Bank of China survey in the second quarter of 2022.BEIJING — Chinese consumers' inclination to save is at its highest in two decades, theRather than spend or invest, 58.3% of survey respondents said they preferred to save their money. That's a jump fromwhich already marked the highest on record for the data which goes back to 2002.
The overall share of respondents most inclined to spend rose slightly from the first quarter by 0.1 percentage points to 23.8%. However, consumers' inclinations to invest fell by 3.7 percentage points to 17.9% in the second quarter, with stocks the least attractive asset.
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