Reading slips 0.6% as household and business confidence weaken
Beijing’s central business district: China’s retail goods sales contracted in May, the National Bureau of Statistics reported on June 16, as consumer confidence faltered last month. © Reuters
GLORIA LI
June 16, 2026 11:28 JST
Updated on June 16, 2026 12:39 JST
HONG KONG — China recorded its first decline in monthly retail sales since the country emerged from COVID restrictions, highlighting the stark divide between weak domestic demand and robust exports in what economists describe as a K-shaped economy.