Confidence dims
Source: Shanghai Daily |
March 12, 2013, Tuesday
|
Print Edition
Print Edition
THE confidence of China's bankcard owners edged down 0.49 point annually last month due to rising prices of food and daily necessities.
The Bankcard Consumer Confidence Index hit 86.20 in February, down 0.90 point from January, according to a report released yesterday by China UnionPay, the country's sole bankcard transaction firm. The index's fall signals a decline in consumers' confidence to spend. Spending at supermarkets grew 1.1 percent from that of January, lifted by strong demand and high food prices, while expenditure on home appliances and automobiles was flat during the week-long Chinese New Year holiday. Spending on business-related travel was also sluggish during the holiday and billings at hotels shed 0.34 percent from a month ago.
The Bankcard Consumer Confidence Index hit 86.20 in February, down 0.90 point from January, according to a report released yesterday by China UnionPay, the country's sole bankcard transaction firm. The index's fall signals a decline in consumers' confidence to spend. Spending at supermarkets grew 1.1 percent from that of January, lifted by strong demand and high food prices, while expenditure on home appliances and automobiles was flat during the week-long Chinese New Year holiday. Spending on business-related travel was also sluggish during the holiday and billings at hotels shed 0.34 percent from a month ago.
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