Consumer sentiment drops in February
Print Edition
CHINESE consumer sentiment fell in February due to a drop in spending on non-essentials during the Spring Festival period.
The Bankcard Consumer Confidence Index was down 2.93 points from a month ago to 81.45, China UnionPay said in a report yesterday.
February is traditionally a low season for auto sales. Bank card holders’ spending volume at auto dealers dropped 35 percent from a month ago. Transportation expenditure dropped as most flight and train tickets for the Spring Festival holiday had been sold in January.
There was, however, a rise in spending on daily chores.
The daily average spending volume at supermarkets added 18 percent to the January figures.
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