Spending lifts morale to highest
Print Edition
CHINA’S bank cardholders’ sentiment rose in September to the highest level this year as consumers spent robustly ahead of the seven-day National Day holiday.
The Bankcard Consumer Confidence Index added 2.03 from a month ago to 85.79 in September, after falling to a record low in nearly two years in August, China UnionPay, the country’s sole bank card transaction firm, said in a report yesterday.
Spending at supermarkets gained 2 percent, sharply lower than the 20 percent monthly growth in the same month last year. Although September is usually the peak season for spending on food and other daily necessity items, consumers this year are becoming more rational about spending on mooncakes and other festive pastry or gifts, UnionPay said.
Travel related spending was boosted by both the Mid-Autumn Festival and the weeklong National Day holiday. Sales at travel agencies surged 20.54 percent from August.
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