FX.co ★ Chinese Retail Sales YTD Slump in February 2024

In a recent report, it was revealed that Chinese Retail Sales Year-to-Date (YTD) experienced a decline in February 2024. The indicator, which had previously shown a growth of 7.22% in December 2023, dropped to 5.5% in the latest update. This data reflects a concerning slowdown in consumer spending in China. The comparison period for this data is Year-over-Year, which means it compares the change in retail sales for February 2024 to the same month a year ago. This significant decrease in retail sales could have implications for the overall Chinese economy and global market sentiment. As of 18th March 2024, the updated figures indicate a notable shift in consumer behavior in the world's second-largest economy.