CONFIDENCE among China's bankcard owners grew from a month ago in March on lower food prices and higher spending on travel and automobiles.
The Bankcard Consumer Confidence Index rose 1.0 point from a year ago in March to 87.20, according to a report released today by China UnionPay, the country's sole bankcard transaction firm.
The increasing supply of seasonable vegetables at the beginning of March has brought down the prices of agricultural products, which in turn pushed up spending on non-daily necessities.
In March, transaction volume at restaurants and air ticket agencies grew 1.33 percent and 0.15 percent from a month ago respectively as consumers became more willing to travel under warmer weather, UnionPay said.
New car launches and sales promotion campaigns starting last month have pushed up automobile sales and transaction size at auto dealers grew 0.99 percent from a month ago.
Bankcard owners' expenditure at supermarkets dropped 3.9 percent last month due to lower inflation level, according to the report.
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