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Chinese economic despair worsened due to weak consumer spending

Chinese economic despair worsened due to weak consumer spending

Posted on July 3, 2023   |  

China’s consumer-driven recovery is abating as spending has stalled from holiday travel to cars and homes.

During the dragon-boat festival, domestic travel spending was lower than pre-pandemic levels. 

In the first few weeks of June, and during the holiday period, home sales slowed in major cities.

Passenger car sales are expected to drop by 6% from 2022.


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