Consumer spending growth at multi-year low in April
Consumer spending rose just 0.2% in April, the lowest growth since December 2022.
December 2022 was when China lifted its zero-Covid policies, so this is the weakest growth post-Covid for Chinese consumer spending.
This is below forecasts for growth of around 2.0% and is down from growth of 1.7% in April.
Restaurant spending rose by 2.2% in April, while grocery spending rose by 4.1%.
Some of the weaker categories included home appliances, down ...