China’s worst fears come true; its retail sales hit a severe low

China’s worst fears come true; its retail sales hit a severe low

Chinese citizens have cut down on shopping and travelling. China's retail sales growth in August was tepid at a humble 2.5% down significantly from the expected 7%. Even the seven-day holiday from October 1 to October 7, which usually propels travelling and retail spending in China, witnessed a decline of 5% year on year as fewer Chinese people travelled around.

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