China's domestic spending sluggish as economy recovers from coronavirus

BEIJING - China's retail sales dropped in July, official data showed on Friday , indicating that sluggish consumer spending could hold up the country's recovery from the coronavirus outbreak.

The retail sector has an increasingly important role in China's economy as leaders look to consumers, rather than trade and investment, to drive growth. Industrial production grew by 4.8 per cent in July - the same as the previous month, but below predictions from Bloomberg analysts of 5.2 per cent growth.

"The glaring concerns around retail demand continue to speak volumes that it's going to take more than stimulus and deep discounts on luxury products to get people shopping again."

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