Summary: China’s retail sales grew 6.4% in May, the fastest pace since December 2023, driven by a tariff truce with the US and government subsidies for consumer purchases. This unexpected boost in consumption, coupled with a slight improvement in the urban jobless rate, offers relief to Beijing amidst the threat of a prolonged trade war. However, economists caution that the pace may not be sustained due to weak house price data and diminishing impact of subsidies.

Link: https://www.theedgesingapore.com/news/china/china-retail-sales-jump-most-2023-relief-tariffs