Chinese Economy Stuck in Slow Lane as Consumption Heads for Drop (opens original article in a new tab)

China's economy faces slowdown as consumer spending declines and investment falls, despite strong trade growth.

• China's consumer spending may have contracted for the first time since the pandemic, extending an economic slowdown.
• Retail sales declined 0.2% in May compared to the previous year, with car sales dropping over 22%.
• Fixed-asset investment is forecast to decrease by 2.3% for the first five months of the year.