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Chinese bankcard holders less confident
By Ding Yining |
September 11, 2012, Tuesday
|
Print Edition
Print Edition
CHINESE bankcard holders were less confident in August than in July as they cut their spending due to weak macro-economic conditions.
The Bankcard Consumer Confidence Index in August shed 0.5 from that in July but was flat from a year earlier at 86.21, according a report released yesterday by China UnionPay.
Consumers spent less due to a sluggish stock market and rising property prices, the report said, adding that expenditure on home appliances such as air conditioners and on autos also shrank last month.
The only bright spot was spending at supermarkets, which rose 3.53 percent from a month earlier as consumers bought more daily necessities.
The Bankcard Consumer Confidence Index in August shed 0.5 from that in July but was flat from a year earlier at 86.21, according a report released yesterday by China UnionPay.
Consumers spent less due to a sluggish stock market and rising property prices, the report said, adding that expenditure on home appliances such as air conditioners and on autos also shrank last month.
The only bright spot was spending at supermarkets, which rose 3.53 percent from a month earlier as consumers bought more daily necessities.
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