China Retail Sales Shrink 0.2% in First Drop Since Pandemic Recovery
Updated
Updated · Bloomberg · Jun 14
China Retail Sales Shrink 0.2% in First Drop Since Pandemic Recovery
2 articles · Updated · Bloomberg · Jun 14
Summary
Retail sales likely fell 0.2% in May from a year earlier, according to economists surveyed by Bloomberg, marking China’s first consumer-spending decline since the pandemic recovery.
Near-zero growth in April had already signaled fading momentum, and the downturn reflects consumption weakened by a soft job market and faster inflation.
The setback adds to signs that China’s early-year rebound is cooling rapidly, with investment slipping again even as trade remains comparatively strong.
For the world’s second-biggest economy, the drop underscores how domestic demand is faltering despite booming exports, complicating the broader growth outlook.