Private Consumption in China
The Chinese economy recorded an average growth rate of 7.4% in private consumption in the decade to 2023, above the 6.4% average for East & South Asia. In 2023, the growth of private consumption was9.7%. For more information on private consumption, visit our dedicated page.
China Private consumption Chart
Note: This chart displays Private Consumption (annual variation in %) for China from 2013 to 2024.
Source: Macrobond.
China Private consumption Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Private Consumption (ann. var. %) | -2.7 | 13.1 | 1.5 | 9.7 | 4.7 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Chinese private consumption projections for the next ten years from a panel of 16 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable private consumption forecast available for Chinese private consumption.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Chinese private consumption projections.
Want to get access to the full dataset of Chinese private consumption forecasts? Send an email to info@focus-economics.com.