Coronavirus Watch: Contrasting retail fortunes | Global
The latest data show that retail spending growth in the US and UK is slowing but remains a relative bright spot for both economies in contrast to China. There, retail spending growth is lagging behind other sectors.
What you will learn:
While advanced economies have sought to limit the hit to households’ incomes during lockdown, China has sought to boost output via government investment and more lending to businesses.
But another reason for the difference is that China’s manufacturers and exporters have benefitted from resilient demand.
While these circumstances helped to ensure a fast initial rebound in Chinese activity, some factors are likely to prove temporary, suggesting that China may face a more challenging environment in 2021.