Confidence dips on lower-than-expected spending

By Ding Yining | March 11, 2016, Friday |

Online Edition

Chinese bankcard holders' confidence dipped in February after picking up January with the week-long Chinese New Year holiday dampened spending on non-daily necessities such as automobiles and home appliances, a latest report shows.

The Bankcard Consumption Confidence Index lowered 1.67 points from a month ago to 80.59 points, according to a poll by China UnionPay.

Domestic consumers' outing expenses went down as the Spring Festival is a time for family gathering, and spending on hotels and accommodations lowered 29 percent from a month ago.

The average expenditure at supermarket chains out of the total spending value rose 0.93 percentage points from a month ago with higher foodstuff prices.

Bankcard owners’ spending at restaurants increased by 5.2 percent month on month due to the Chinese New Year holiday, while their expenditure on transport and shopping also rose, it said, without giving figures.

Business

About Us
|
Terms of Use
|
RSS
|
Privacy Policy
|
Contact Us
|
Shanghai Call Center: 962288
|
Tip-off hotline: 52920043

沪ICP证：沪ICP备05050403号-1
|
互联网新闻信息服务许可证：31120180004
|
网络视听许可证：0909346
|
广播电视节目制作许可证：沪字第354号
|
增值电信业务经营许可证：沪B2-20120012

Confidence dips on lower-than-expected spending

Email this to your friend