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Bankcard owners鈥 morale falls in October
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SENTIMENT among China’s bankcard owners fell in October as the macro-economic conditions turned unfavorable.
The Bankcard Consumer Confidence Index shed 1.64 points from September to 84.15 in October, China UnionPay, the country’s sole bankcard transaction firm, said in a report yesterday.
In October, bankcard owners spent more on daily necessities while travel-related spending fell. Spending on air tickets dropped 13.82 percent from a month ago, and transactions at travel agencies also fell 19.49 percent.
Expenditure at gas stations fell 8.48 percent due to lower gasoline prices. Passenger car sales reversed from a month ago, and transactions at automobile dealers shed 11.6 percent in October.
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