Retail Sales Growth in China Shows Signs of Slowing Down

According to the latest report released by the National Bureau of Statistics on Friday, retail sales in China experienced a year-on-year increase of 3.7% in July. This growth rate, however, did not meet the anticipated figures and marked a decrease from the previous month's 4.8% rise.

Urban vs. Rural Consumer Goods Sales

The data revealed a nuanced picture of consumption across different regions. Urban areas saw a 3.6% increase in consumer goods sales, while rural areas outperformed slightly with a 3.9% growth. This disparity highlights the varying consumption patterns between urban and rural populations in China.