China retail sales up 1.2% YTD through July to CNY28.78T (~$4.27T). Ex-autos, growth was stronger at 2.7%. July alone came in soft at +0.6% to CNY3.9T.
Still sluggish consumer demand — the ex-auto number tells you households are cautious. Watching for policy response and whether stimulus can shift sentiment into year-end. Not seeing the kind of momentum you'd want in the world's second-largest consumer market.
Still sluggish consumer demand — the ex-auto number tells you households are cautious. Watching for policy response and whether stimulus can shift sentiment into year-end. Not seeing the kind of momentum you'd want in the world's second-largest consumer market.