Bankcard holders' confidence slides
CONFIDENCE among Chinese bankcard holders dipped from a month ago in February after consumer spending contracted after the Lunar New Year holiday, an industry survey showed.
The Bankcard Consumer Confidence Index rose 0.65 point from a year earlier but was down 0.09 point on a monthly basis to 86.69 points last month, according to a report released yesterday by China UnionPay, the country's sole bankcard transaction company.
The amount of billing at department stores, home appliance retailers and restaurants fell last month as consumer spending returned to normal after the week-long Lunar New Year holiday wrapped up.
The Bankcard Consumer Confidence Index rose 0.65 point from a year earlier but was down 0.09 point on a monthly basis to 86.69 points last month, according to a report released yesterday by China UnionPay, the country's sole bankcard transaction company.
The amount of billing at department stores, home appliance retailers and restaurants fell last month as consumer spending returned to normal after the week-long Lunar New Year holiday wrapped up.
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