Expenses on food up amid weak sentiment
By Cathy Ding |
October 16, 2012, Tuesday
|
Print Edition
Print Edition
CONFIDENCE among Chinese bankcard holders fell in September from a month ago amid low spending sentiment on non-daily necessities ahead of the eight-day National Day holiday.
The Bankcard Consumer Confidence Index in September dipped 0.41 from August to 85.80, a report released yesterday by China UnionPay, the country's sole bankcard transaction firm, said.
The figure also shed 0.54 point from a year ago.
Spending on food rose during the holiday as the average billing amount of cardholders at supermarkets jumped 27.2 percent from August. But spending on home appliances and vehicles fell.
Unfavorable economic conditions overseas and in the domestic market also crimped cardholders' short-term spending sentiment, UnionPay said.
The Bankcard Consumer Confidence Index in September dipped 0.41 from August to 85.80, a report released yesterday by China UnionPay, the country's sole bankcard transaction firm, said.
The figure also shed 0.54 point from a year ago.
Spending on food rose during the holiday as the average billing amount of cardholders at supermarkets jumped 27.2 percent from August. But spending on home appliances and vehicles fell.
Unfavorable economic conditions overseas and in the domestic market also crimped cardholders' short-term spending sentiment, UnionPay said.
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