China's retail sector growth slowed in October, marking a decrease in consumption. Private sector fixed-asset investment also edged up, to 8.8 percent. October's retail sales saw a YoY increase of just 8.6%, 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, point to a domestic consumption slowdown fuelled by rising household debt eating into disposable income while investment returns dropped. Retail spending fell at an annual rate of 6.1% from October through November, compared with 6.6% for all of last year, and was revised up slightly on Tuesday after data showed that consumer confidence rose to its highest
China's retail sector growth slowed in October, marking a decrease in consumption. October's retail sales saw a YoY increase of just 8.6%, 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, point to a domestic consumption slowdown fuelled by rising household debt eating into disposable income while investment returns dropped. Retail spending fell at an annual rate of 6.1% from October through November, compared with 6.6% for all of last year, and was revised up slightly on Tuesday after data showed that consumer confidence rose to its highest