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Bankcard owners’ confidence stable
Print Edition
Chinese bankcard owners’ confidence was stable in August after rebounding in the pervious month as economic data showed an improving macroeconomic situation.
The Bankcard Consumer Confidence Index dipped 0.03 point from July and was up 0.52 point year on year to 86.73 points last month, China UnionPay, the country’s sole bankcard transaction firm, said in a report yesterday.
The value of transactions recorded at supermarkets took a higher share of consumption in August, about 0.2 percentage point up from July.
With the summer holiday nearly coming to an end, airline ticket bookings last month declined 0.47 percentage point from July.
With the rising price of gold and jewelry, the value of transactions at jewelers dipped 0.02 percent in August from July.
Spending on alcohol and cigarettes dipped 0.03 percentage point.
The index, first released in April 2009, is based on bankcard transaction data and analysis of structural changes in urban consumption.
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