China retail sales fall 0.6% as investment weakens (opens in new tab)

China’s retail sales fell 0.6% year on year in May, the first decline since December 2022 and weaker than expectations for flat growth, according to National Bureau of Statistics data released Tuesday. The drop reversed April’s 0.2% increase and showed weaker household spending even as industrial output rose 4.5% from a year earlier, accelerating from April’s 4.1% and topping forecasts for 4.3% growth. Investment data also weakened: urban fixed-asset investment fell 4.1% in January-May from a...