China’s youth unemployment rate hit a record high of 21.3 percent in June. “Households are wary of spending, consumers remain skeptical about the recovery,” Moody's Analytics wrote in a research note.
“We expect to see monetary policy ease in coming months and targeted fiscal supports given to key industries, including real estate and construction. But that extra support won’t be a silver bullet. Increasingly, 2023 is looking like a year to forget for China,” the Moody’s Analytics report added.
Retail sales slowed sharply in June, which increased 3.1 percent year-over-year, compared to a surge in May, which grew 12.7 percent.Cosmetics registered 4.8 percent growth in June, compared to 11.7 percent in May. Gold and silver rose 7.8 percent, compared to 24.4 percent in May. Retail sales of catering, sports and enterntainment, along with tobacco and alcohol, rose the most.
For the first half of 2023, retail sales expanded 8.2 percent year-over-year to 22,758 billion renminbi, or $3.17 billion, according to the National Bureau of Statistics. Online retail totaled 7.16 billion renminbi, or $999 million, in the first six months of 2023, a 13.1 jump year-over-year. E-commerce currently accounts for 26.6 percent of overall retail sales in China.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
China property investment slide deepens in June as structural shift inflicts painThe National Bureau of Statistics says the property sector is shifting from high-speed development to stable development in the medium to long term.
Consulte Mais informação »
Kia EV9 Wholesale Shipments Exceeded 1,000 In June 2023In June, the Kia EV6 wholesale sales amounted to 9,217. At the same time, June was the first month of volume deliveries of the Kia EV9 - 1,337 units.
Consulte Mais informação »
Declaration of Independence | June 19, 2023 | C-SPAN.orgMartin DiCaro, host of the Washington Times “History As It Happens” podcast, talked to George Washington University history professor Denver Brunsman about the Declaration of Independence. This program was part of the Washington Times taping of their history podcast.
Consulte Mais informação »
27 Under-$100 Buys R29 Editors Tried & Loved In JuneFrom breezy linen shorts to travel-friendly makeup bags, we rounded up 27 of our favorite under-$100 buys from June.
Consulte Mais informação »
Which presidential candidates raised the most from April through June?Presidential campaigns had until Saturday night to report their fundraising totals for the second quarter.
Consulte Mais informação »
Singapore's June non-oil exports fall 15.5% year-on-year, lower than forecastSingapore's non-oil domestic exports fell 15.5% in June from a year earlier, weighed down by declines in both electronic and non-electronic products.
Consulte Mais informação »