China's Consumer Confidence Index declined in March by some 5%. The Consumer Confidence Index is composed of the Consumer Expectations Index and the Consumer Satisfaction Index. The key driver for this overall index decline has been the Consumer Satisfaction Index, which dropped back to the November lows. China's citizens are quite unhappy with the current state of things.
Having said this, the Consumer Expectations Index has not declined nearly as much, with the Chinese consumer somewhat more sanguine about the future.
This is another indication that China will be pushing through more stimulus in the near term.