China retail sales fall for the first time since COVID lockdowns
China's retail sales fell in May for the first time since the end of COVID-19 lockdowns. Nikkei Asia reports that industrial output and fixed-asset investment also undershot expectations. The figures revive concerns over weak domestic demand and over whether government stimulus is enough.
China's retail sales fell year-on-year in May, the first contraction since the end of the COVID-19 lockdowns, Nikkei Asia reports. Industrial output and fixed-asset investment also came in below market expectations.
The figures point to a deepening slowdown in household consumption. Persistent weakness in housing and uncertainty over jobs are among the main drags on consumer confidence. Nikkei Asia notes that economists are now asking whether the current stimulus package is large enough.
Markets will watch closely for any further fiscal or monetary measures from Beijing. The direction of domestic demand will also matter for regional exporters and commodity flows. Investors are looking for clarity from policymakers rather than a wait-and-see summer. None of this constitutes investment advice.
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