AN index that measures confidence of Chinese bankcard holders rose in December for the seventh month, fueled by an increase in spending before the year end, China UnionPay Co said in a report yesterday.

The Bankcard Consumer Confidence Index added 0.03 percentage point from November to 86.72 in December last year, China UnionPay said. The index rose 0.8 percentage point from December 2010.

The country's sole bank card transaction firm said retail stores' sales promotions ahead of New Year's Day and slower inflation in recent months sparked more retail spending.

Spending on home appliances, cars and jewelry climbed over 1 percent from November's, the report said.

China's inflation cooled for the fifth month and the Purchasing Managers Index rose in December for the first time in three months, indicating a recovery in manufacturing activities.

Source:shanghaidaily