China retail sales decrease for first time in three years

Retail sales in China recorded their first decline in over three years in May, decreasing by 0.6% year-on-year, despite a 2.8% increase in sales during the first five months. Urban fixed asset investment also fell by 4.1% since the beginning of the year, with a significant drop in the real estate sector of 16.2%. Although industrial production rose by 4.5% in May, the Chinese economy still faces challenges due to weak domestic demand and operational pressures on companies.

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