What China’s latest retail sales reveal about changing consumer spending

SHANGHAI, CHINA – MAY 28: Nanjing Road street night view on May 28, 2012 in Shanghai, China. Nanjing Road is 6km long as the world’s longest shopping district with 1M visitors daily.
Reporting by the business media of retail sales and other economic data produced by governments in developing Asia is often too trusting. The official numbers are usually reported unquestioningly, yet they can be deeply flawed for a number of reasons. Occasionally it is worth reminding ourselves that they need to be taken with a pinch of salt, sometimes a handful of it.  With respect to China, there have long been doubts over the quality of economic data coming out of the National Statistic

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