Nevermind the resilience of the Chinese consumer.
The Westpac MNI China Consumer Sentiment indicator sank to a record low in eight years of data this month, falling 7.2 per cent to a score of 109.7.
Before this month's decline, the index has registered gains for four straight months in a trend that seemed downright bizarre. The economy was slowing throughout the summer, the country's equity bubble popped in June and the People's Bank of China had to devalue the renminbi in August.
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