Retail sales in March rose 1.7% year on year, slower than the growth of 2.8% seen in January and February.
Spending at restaurants grew by 2.9% year on year, with spending at large restaurant chains rising 2.0% year on year.
Spending on groceries continued to be strong, rising 9.5% year on year.
Restaurant spending has been under pressure due to the subsidy wars from major players in the food delivery space. That should ease due to government pressure as part of the anti-involution campaign but ...