24 June 2019

Bankcard spending confidence drops in November, Xinhua says

China’s Bankcard Consumer Confidence Index (BCCI) for November slipped 0.13 point from a year earlier and 0.5 point from October to 86.2 points, suggesting a weakness in consumer confidence for the month, the official Xinhua news agency reported Monday. The trade volume of non-necessities fell in November from the previous month as the market entered a traditionally weaker season for consumption. Card spending on electrical appliances was down 0.92 percent from the previous month, 0.22 percent for precious metals and 0.17 percent for automobiles. The BCCI, a joint undertaking of Xinhua and China UnionPay, is based on data from bankcard transactions and can reflect changes in consumption behavior among urban residents, the report said.

– Contact HKEJ at [email protected]




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