Wed, 29 Aug 2012 07:04:08 GMT
China retail sales are declining
Retail sales in China are declining, weighing on Premier Wen Jiabao's intention to rely on consumer spending for recovery as the economy is experiencing a slowdown. Fiscal spending is growing at a faster pace than the retail sales, rising 37% in July from the previous year, the Ministry of Finance reported. Retail sales increased 12.1% in June and 12.2% in