Consumers outside the Prada store in the IFS shopping district.Shutterstock
China’s retail sales rose 12.4% in May, disappointing, according to data released by the National Bureau of Statistics of China (NBS). Bidding to increase spendingEspecially before and after Labor Day holidays in early May.
Analysts expected May retail sales to increase by 13.6% when China began resuming from the blockades and restrictions imposed in its first battle with Covid-19. Retail sales in May 2021 were up 9.3% from the same month in 2019 before the pandemic.
Private consumption is lagging behind China’s economic recovery from the coronavirus pandemic. April retail sales were also below analysts’ expectations. 17.7% increase Year-on-year comparison.
https://www.businessoffashion.com/news/china/china-retail-sales-rise-124-in-may-miss-expectations China’s retail sales increased 12.4% in May, unexpected