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China Retail Sales Drop
China Retail Sales Drop

China Retail Sales Drop

China Retail Sales Drop

China’s retail sales growth slowed last month, government data showed Monday, in a worrying sign for domestic demand in the world’s second-largest economy, AFP reported. Retail sales in October grew 10% from a year earlier, missing expectations for sales to match the previous month’s pace of 10.7%, the National Bureau of Statistics said. Other data for last month showed industrial output growth of 6.1%, unchanged from September and slightly below forecasts in a Bloomberg News survey of economists. China is a key driver of the world economy but its expansion has slowed significantly from the double-digit years of the past.

 

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