October 23, 2020 | Macro
[Report] Can the Chinese consumer save the day?
Chinese consumption has been significantly lagging the recovery in the rest of the economy. It accounted for a historically weak share of GDP growth in the third quarter; consumer-facing industries are still growing at rates well below historical levels, and household consumption expenditure is still below last year’s levels in urban areas. But an improvement in consumer spending at the end of Q3 has given some grounds for optimism.
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