Below trend growth to continue
Buyers beware: China’s consumers have remained subdued during the COVID-19 recovery.
When compared with other partial indicators of China’s economic performance, recent trends in retail sales have been comparatively weak – highlighting the concerns that China’s consumers have been lagging behind other parts of the economy in the country’s recovery from COVID-19. Chinese authorities may need to address a series of structural constraints if it intends to support long term growth in household consumption.
For further details, please see the China Economic Update – June 2021
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