立信数据：2025年二季度中国消费者消费意愿调查报告

Core Insights - The consumer willingness index in China for Q2 2025 is 120.2, indicating a slight decline from the previous quarter and a year-on-year decrease of 7.1 points, suggesting a stabilization phase in consumer sentiment [1][8][10]. Consumer Willingness Index Comparison - The willingness index shows significant regional and demographic disparities, with the Northeast region scoring the highest at 127.4, while the Western region is the lowest at 111.5 [17][19]. - Urban consumers have a higher index (122.2) compared to rural consumers (109.4), with first-tier cities outperforming lower-tier cities [19][21]. - High-income consumers have an index of 140.0, significantly higher than middle-income (120.9) and low-income (111.3) groups, indicating a widening gap in consumer sentiment [21][28]. Consumer Satisfaction and Economic Outlook - Over half of consumers (55.5%) perceive prices as "high," despite a slight decrease in CPI, reflecting a persistent expectation for price reductions [2][49]. - Consumer satisfaction regarding current economic conditions is slightly declining, with 30.5% rating it as "good" and a satisfaction index of 114.1 [30][32]. - Expectations for future economic conditions are also low, with only 44.5% believing their situation will improve in a year, marking the lowest level since the survey began [34][38]. Spending Behavior and Future Intentions - Consumers are primarily saving (51.8%) and investing in children's education (45.3%), with a notable increase in savings intentions [2][11]. - There is a strong demand for home appliances, clothing, and travel in the next six months, with the "trade-in" policy showing effectiveness but facing limitations [11][12]. - The automotive sector is seeing a rebound in consumer intent, particularly for mid-range vehicles priced between 100,000 to 200,000 yuan, although the growth in new energy vehicle adoption is slowing [12][48]. Policy Recommendations - Recommendations include enhancing social security, stabilizing growth and employment, reducing educational burdens, and issuing consumption vouchers to boost consumer confidence [2][14]. - Emphasis on improving the quality of products and services is crucial for encouraging consumer spending [11][48].