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