Friday, May 29, 2020

China’s consumer spending expected to weaken further this yea…

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Chinese consumer spending is likely to slow for the rest of the year as a result of the uncertainty created by trade tensions with the United States, analysts said.This could exert downward pressure on economic growth, given that the government is counting on the consumer to play a big part in mitigating the effects of the trade war.The role of consumption in China’s economic growth has changed in recent years – it accounted for 76 per cent of gross domestic product (GDP) growth in 2018, up…

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