China's Retail Sales Post First Monthly Drop Since COVID Lockdowns
Nikkei Asia—Consumer spending in China contracted in May for the first time since the pandemic-era lockdowns, adding fresh evidence that domestic demand remains fragile despite government stimulus. CNBC noted the retail decline was broader than expected, with categories from clothing to electronics all weakening. Nikkei Asia placed the data in the context of ongoing deflation pressure and a property sector still in distress, raising doubts about Beijing's growth targets.