China retail sales slow, raising economic recovery concerns

Beijing, May 17, 2021 (AFP) Chinese retail sales grew at a slower pace than expected last month, data showed Monday, raising concerns about the recovery in the world’s number two economy. China was the first major economy to bounce back from the coronavirus pandemic thanks to tight lockdowns and mass testing, with factories doing most of the heavy lifting as companies producing everything from protective gear to electronics and other goods sold around the world. There is a general consensus that as they slowly returned to their normal lives, the country’s army of cashed-up consumers would then take over the…