Slowdown impacts card owners鈥 morale
Print Edition
CHINA’S bankcard owners’ confidence fell from a year earlier in March amid an economic slowdown in the world’s second-biggest economy, according to a report yesterday.
The Bankcard Consumer Confidence Index eased 2.28 from last year to 84.92 in March, China UnionPay, the country’s sole bankcard transaction company, said in the report.
But their confidence increased 0.35 from February as business activities picked up after the weeklong Chinese New Year holiday, and the report predicted that the confidence may rise steadily.
The monthly gain was due to rising consumption of home appliances, automobiles and travel in March. The proportion of supermarket consumption in total bankcard dealings fell 0.35 percentage points from a month earlier, the report said.
Bankcard holders’ confidence is set to rise in the following months, the report said.
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