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Macroeconomics: Chinese retail sales recover above pre-COVID-19 levels Macroeconomics: Chinese retail sales recover above pre-COVID-19 levels Posted 16th Neal Brewster The latest release of economic data in China shows retail sales in August to have grown by 0.5% compared to the same period in 2019, the first y-o-y rise since the COVID-19 pandemic hit the country. At the height of the crisis in the country in February, sales were down over 20% y-o-y. Roskill view Roskill’s view has always been that consumption in China would recover strongly once the virus was brought under control, and that consumers who had held...
