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Correction: China's Retail Sales Contract 0.6% in May

(Corrects the second paragraph to state that the latest reading reversed the increase in April)China's retail sales of consumer goods fell 0.6% year over year to 4.109 trillion yuan in May, according to data from the National Bureau of Statistics released Tuesday.The latest reading reversed the 0.2% increase recorded in April. It missed the consensus forecast for a 0.3% decline, as tracked by Investing.com.Sales in urban areas fell 0.9% year over year to 3.57 trillion yuan, while rural retail sales edged up 1.5% to 534.9 billion yuan.For the first five months of the year, retail sales in China rose 1.4% year over year to 20.6 trillion yuan, easing from the 1.8% growth in the January-April period.

Shanghai Composite^SSZE

International2h ago

China's Retail Sales Contract 0.6% in May

China's retail sales of consumer goods fell 0.6% year over year to 4.109 trillion yuan in May, according to data from the National Bureau of Statistics released Tuesday.The pace of growth was softer than the 0.2% increase recorded in April. It missed the consensus forecast for a 0.3% decline, as tracked by Investing.com.Sales in urban areas fell 0.9% year over year to 3.57 trillion yuan, while rural retail sales edged up 1.5% to 534.9 billion yuan.For the first five months of the year, retail sales in China rose 1.4% year over year to 20.6 trillion yuan, easing from the 1.8% growth in the January-April period.

Shanghai Composite^SSZE