China retail sales post first annual drop in over three years, signaling deepening economic slump
By
Anniek Bao, Evelyn Cheng
Toasted golden, schmeared with insight. Top of the rack.
Summary
China's retail sales fell for the first time in over three years in May 2025, dropping 0.6% year-over-year, missing economists' forecasts of no change. Urban fixed-asset investment also contracted more than expected. The data, released by the National Bureau of Statistics, indicates a deepening economic slump as the Labor Day holiday failed to boost sluggish consumer spending.
Key quotes
· 3 pulledRetail sales, a gauge of consumption, declined in May for the first time since December 2022, dropping 0.6% from a year earlier
The Labor Day holiday at the start of May failed to offset the country's sluggish consumer spending
That figure came in lower than the forecast for no change among economists polled by Reuters
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