Share rebound boosts Chinese consumer confidence
Print Edition
CHINESE consumer sentiment rebounded in May amid a favorable stock market performance, a report said yesterday.
The Bankcard Consumption Confidence Index added 0.32 points from a month ago to 83.99, China UnionPay said in the report.
Expenditure at restaurants and eateries gained 4.9 percent from a month ago while spending at department stores and shopping centers jumped 13.75 percent.
Recent price cuts by global fashion houses such as Burberry and Gucci in their domestic outlets boosted sales of luxury bags and leather goods by 32.9 percent.
Consumer sentiment was stable with both the stock market and property sector rebounding in recent months, and is set to rise with the Purchasing Managers’ Index and other macro-economic data suggesting improvement.
A warming property market in recent months also lifted home appliance sales by 4.09 percent in May from a month ago.
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