China’s consumer confidence declined for a third month in August partly due to a weak stock market, according to a latest index.
The Bank-card Consumer Confidence Index (BCCI), compiled by Xinhua News Agency and China UnionPay, a national bank card association, declined 0.6 point from July to 82.07 in August, the third month-on-month drop in a row.
On a year-on-year basis, the index dropped 1.69 percent. A lower reading shows a drop in consumers’ desire to spend.
(Source: Shanghai Daily)