China’s Economic Disparities Showcased as May Retail Sales Decline for First Time in Over Three Years

China’s economic landscape in May exhibited a variation in performance, with retail sales experiencing a downturn for the first time in over three years while industrial output saw an increment, painting a picture of diverging growth trends. Published data on Tuesday underscored a dual-speed growth dynamic in the world’s second-largest economy, wherein factories benefitted from robust exports but internal demand weakened amidst a prolonged property market slump. The crucial retail sales metric, reflective of consumer spending, recorded a 0.6% decline in May, signaling a reversal from April’s modest 0.2% uptick and falling short of the projected 0.0% figure. This marked…