China 's retail sector growth slowed in October , marking a decrease in consumption . October 's retail sales saw a YoY increase of just 2 % , according to the National Bureau of Statistics , its lowest level since May. The lower - than - expected sales , which followed 9.2 % YoY growth in September , contributed to a domestic economic slowdown fuelled by rising household debt turning into disposable income while investment returns fell . GDP growth in the fourth quarter could dip below 6.5 percent,” said Wang Jun, Beijing-based chief economist at Zhongyuan Bank. While seasonal shortages also contributed to the decreasing growth rate , analysts have been quick to indicate that the retail sector 's downturn started in March , while the government 's fiscal stimulus was not brought in quickly enough .
China 's retail sector growth slowed in October , marking a decrease in consumption . October 's retail sales saw a YoY increase of just 2 % , according to the National Bureau of Statistics , its lowest level since May. The lower - than - expected sales , which followed 9.2 % YoY growth in September , contributed to a domestic economic slowdown fuelled by rising household debt turning into disposable income while investment returns fell . While seasonal shortages also contributed to the decreasing growth rate , analysts have been quick to indicate that the retail sector 's downturn started in March , while the government 's fiscal stimulus was not brought in quickly enough .