Home » China’s retail sales miss expectations again

China’s retail sales miss expectations again

by MD Samsuzzaman Siyam

Shoppers and pedestrians walk along Nanjing Road in Shanghai, China, on Sunday, June 6, 2021.

Qilai Shen | Bloomberg | Getty Images

BEIJING — China said Wednesday that retail sales rose 12.4% in May, missing expectations despite government efforts to boost spending and a major holiday during the month.

Analysts had expected retail sales to rise 13.6% in May from a year ago.

Consumer spending has lagged China’s economic recovery from the coronavirus pandemic. In April, retail sales climbed a less-than-expected 17.7% from a year ago.

Industrial production rose 8.8% from a year ago in May, less than the 9% growth forecast by analysts.

The overall unemployment rate for cities fell to 5%, but that for people aged 16 to 24 was 13.8%.

This is breaking news. Please check back for updates.

Source by [author_name]

You may also like

Leave a Comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy Policy