China's retail sales growth slumps to 16-year low as trade war risks rise

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China's retail sales growth slumps to 16-year low as trade war risks riseChina reported surprisingly weaker growth in retail sales and industrial output for April on Wednesday, adding pressure on Beijing to roll out more stimulus as the trade war with the United States escalates. Overall retail sales in April rose 7.2% from a year earlier, the slowest pace since May 2003, data from the National Bureau of Statistics (NBS) showed. 'Weak retail sales partially stemmed from a deterioration in employment and declining income of the middle-and-low income groups,' said Nie Wen, an economist at Hwabao Trust.


Read More: https://news.yahoo.com/china-april-industrial-output-cools-retail-sales-growth-030120600--finance.html

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