China's 618 Shopping Festival Growth Slows to 4% Amid Persistent Consumer Spending Weakness
Online sales during China's '618' shopping festival grew by just 4% year-over-year, a sharp decline from the previous year's 15.2%, according to Syntun data. The slowdown highlights ongoing consumer spending weakness despite stronger export and tech sectors.
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Topics: 618 shopping festival China consumer spending economic slowdown retail sales