China Retail Sales Rise 6.4% While Property Prices Drop 0.22% in May
Key Points
- China's economy shows a mixed bag: retail sales rose 6.4% in...
China's economic report card just arrived, and it looks like someone wrote two completely different essays on the same exam. While retail sales jumped 6.4% year-over-year in May (beating April's 5.1% and making analysts look pleasantly surprised), the property market decided to take another tumble with a 0.22% price drop that has real estate agents updating their resumes.
The Tale of Two Markets
Picture this: Chinese consumers are out there buying stuff like it's 2019, thanks to government trade-in programs that basically amount to "we'll pay you to throw away your old blender." The "618...
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