No Slowdown for China’s Shoppers
From BBC News:
Chinese shoppers continued to spend at record levels in April, a sign that stronger domestic demand may be able to offset a slowdown in exports.
Retail sales rose at an annual rate of 22% last month, the fastest pace since records began in 1999, figures from the National Bureau of Statistics showed. Sales figures were given a boost by the rate of inflation, which rose to 8.5% in April – close to a 12-year high. China is keen to tilt growth away from exports and foreign investment.