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China's consumer confidence rebounds in October

Xinhua - Nov 9, 2012

Chinese consumers using bank cards showed more confidence in October than a month earlier, according to the Bankcard Consumer Confidence Index (BCCI) on Friday.

The BCCI, compiled by the Xinhua News Agency and China UnionPay, a national bank card association, rose 0.66 point from September to 86.46 in October. However, this was down 0.17 point year-on-year.

Falling prices of agricultural products, holiday consumption and the country's stabilizing economy are reasons behind the month-on-month increase in consumer confidence, according to the BCCI report.

The week-long National Day holiday starting on Oct. 1 pushed up bank-card users' consumption on hotels, entertainment and jewelry, the report said.

Read Full Article from Xinhua

- Posted: 2012-11-09 13:44:35


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