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Bankcard holders' confidence dropped in September
By Ding Yining |
October 15, 2012, Monday
|
Online Edition
Online Edition
CONFIDENCE among Chinese bankcard holders weakened in September due to relatively low spending sentiment on non-daily necessities amid a weaker economy.
The Bankcard Consumer Confidence Index in September was down 0.41 from a month ago to 85.80, according to a report released today by China UnionPay, the country's sole bankcard transaction firm.
The figure was also down 0.54 points from a year ago.
The average amount of billing of card owners at supermarkets jumped 27.2 percent from a month earlier as spending on food rose during the eight-day National Daily holiday. However, spending on non daily necessities such as autos, jewelry dropped on a weak confidence in economy and higher gold prices.
Expenditure at jewelry and artwork vendors in the one month period ended September 30 also dropped 28.9 percent from a month ago.
UnionPay said last week that food and travelling expenses hiked from the same period last year in the eight-day holiday at the beginning of October.
The Bankcard Consumer Confidence Index in September was down 0.41 from a month ago to 85.80, according to a report released today by China UnionPay, the country's sole bankcard transaction firm.
The figure was also down 0.54 points from a year ago.
The average amount of billing of card owners at supermarkets jumped 27.2 percent from a month earlier as spending on food rose during the eight-day National Daily holiday. However, spending on non daily necessities such as autos, jewelry dropped on a weak confidence in economy and higher gold prices.
Expenditure at jewelry and artwork vendors in the one month period ended September 30 also dropped 28.9 percent from a month ago.
UnionPay said last week that food and travelling expenses hiked from the same period last year in the eight-day holiday at the beginning of October.
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