Slower-than-expected consumer growth for China

Slower-than-expected consumer growth for China

The economic data released today showed that one of the largest economies in the world is still streets away from a post-pandemic recovery

According to the report released by the National Bureau of Statistics of China, retail sales rose 17.7% last month from the year-ago period, missing the 25% growth forecasted for April. It also marked a slowdown from the 34.2% year-on-year increase reported in March.

On the other hand, online sales of consumer goods rose 23.1% during the first four months.

After last week, the People’s Bank of China noted that the foundation for a robust economic recovery is not yet solid and consumer spending remains constrained, the Bureau of Statistics reiterated the fact.

In a separate report, the urban unemployment rate came in at 5.1% in April, down from 5.3% reported in March.

At the moment of writing, USD/CNH is trading 0.06% higher at 6.444.

Sources: cnbc.com, forexfactory.com

This information prepared by za.capex.com is not an offer or a solicitation for the purpose of purchase or sale of any financial products referred to herein or to enter into any legal relations, nor an advice or a recommendation with respect to such financial products.

This information is prepared for general circulation. It does not regard to the specific investment objectives, financial situation or the particular needs of any recipient.

You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.

This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent. Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of za.capex.com

JME Financial Services (Pty) Ltd trading as ZA.CAPEX.COM acts as intermediary between the investor and Magnasale Trading Ltd, the counterparty to the contract for difference purchased by the Investor via ZA.CAPEX.COM, authorised & regulated by the Cyprus Securities and Exchange Commission with license number 264/15. Magnasale Trading Ltd is the principal to the CFD purchased by investors.