Sunday 26 September 2021
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scmp - 12 days ago

China’s retail sales growth plunged in August, impeding economic recovery

Retail sales growth in China has slumped heavily in August further accentuating the slowdown in the Chinese economy, the latest economic data shows.Both industrial production and fixed assets investments growth in August also fell short of expectations pointing to more softening in the economy.Retail sales, a key measurement of consumer spending in the world’s most populous nation, grew by a mere 2.5 per cent in August compared with a year earlier, way down from the 8.5 per cent increase in…


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