China retail sales are declining

Note: This section contains information in English only.
Source: Bloomberg
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 July, according to the National Bureau of Statistics. 

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