China retail sales growth in “Golden Week” slowed to 11%

FXStreet (Mumbai) - As per Reuters report, the Ministry of Commerce data released today showed China’s retail sales growth during the weeklong National Day Holiday, a sign that consumption remains weak in the world’s second largest economy.

Retail sales during the “Golden-Week” holiday rose 11% to USD 170.2 billion, compared to 12.1% growth in the same period last year. The holiday is important since retailers launch promotions and discounts in order to lure consumers.