Climb in confidence sees more spending
By Ding Yining |
November 10, 2012, Saturday
|
Print Edition
Print Edition
CONFIDENCE among Chinese bankcard holders rose for the first time in three months in October as they spent strongly during the holiday season helped by lower inflation.
The Bankcard Consumer Confidence Index gained 0.66 from September to 86.46 last month, according to a report released yesterday by China UnionPay, the country's sole bankcard transaction firm.
The index of agricultural wholesale prices tracked by the Ministry of Agriculture fell to 182.5 from 192.5 in September, and this boosted expenditure on non-daily necessities.
The combined eight-day Mid-Autumn Festival and National Day holiday from September 30 to October 7 also lifted spending at hotels and tourist attractions.
Spending at hotels and jewelers in October grew 0.41 percent and 1 percent from September respectively.
The Bankcard Consumer Confidence Index gained 0.66 from September to 86.46 last month, according to a report released yesterday by China UnionPay, the country's sole bankcard transaction firm.
The index of agricultural wholesale prices tracked by the Ministry of Agriculture fell to 182.5 from 192.5 in September, and this boosted expenditure on non-daily necessities.
The combined eight-day Mid-Autumn Festival and National Day holiday from September 30 to October 7 also lifted spending at hotels and tourist attractions.
Spending at hotels and jewelers in October grew 0.41 percent and 1 percent from September respectively.
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