China’s weak consumption over Lunar New Year may signal ‘worsening economy’, analysts say

Source: China – South China Morning PostConsumption over the week-long Lunar New Year holiday in China failed to get anywhere near pre-pandemic levels, and some analysts warn that the downtrend could signal a worsening economy.During the holiday period that ended on Sunday, Chinese tourists took 251 million trips and contributed 289.2 billion yuan (US$45.4 billion) in tourism revenue – 26.1 per cent and 43.7 per cent less than the respective totals during the holiday in 2019, and 2 per cent and 3.9 per cent below the holiday last…Read More

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