China’s Consumer Spending Dips Amid Economic Slowdown

China’s consumer confidence slipped in April to its lowest level since mid-2025, signaling a challenging road ahead. Household repayment of loans persisted into May, resulting in a contraction of bank lending to the sector for the second consecutive month. China’s economic momentum faces headwinds as consumption grapples with a weak job market and surging inflation. Despite modest growth earlier in the year, the country’s economy is now witnessing a rapid cooling, with investment on a downward spiral. Retail sales registered a negative growth of 0.2% year-on-year in the latest report, pointing towards a contraction in consumer spending. Although industrial production…