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China’s Retail Spending Picks Up, as Housing Slump Deepens
  + stars: | 2023-11-15 | by ( Cao Li | ) www.wsj.com   time to read: 1 min
Workers at a logistics center in Hengyang, China, sorting packages for delivery after the Singles Day shopping festival. Photo: str/Agence France-Presse/Getty ImagesHONG KONG—China’s economy showed modest signs of improvement in October as consumer spending picked up, but the country’s prolonged property slump worsened. Retail sales rose 7.6% compared with the same period last year, when stringent Covid lockdowns kept a tight lid on spending activities, according to data released Wednesday by China’s National Bureau of Statistics. October’s sales accelerated from September’s 5.5% year-over-year growth and topped the 7% expected by economists.
Persons: lockdowns Organizations: Agence France, Getty, HONG, China’s National Bureau of Statistics, September’s Locations: Hengyang, China, HONG KONG
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