28-September-2020
Economy News
 
China's economy shrugs off global slump as shoppers join the recovery
16-Sep-2020

The coronavirus pandemic has pushed the world's economies into historic slumps. But China is bucking the trend. The world's second largest economy has been in recovery mode for months. Now, consumers are starting to spend more, pushing retail sales up to 3.36 trillion yuan ($495 billion) in August, a 0.5% increase over the previous year. While small, the gain marks the first time sales have increased in 2020. Chinese authorities touted the uptick at a monthly press conference Tuesday, and pointed out that the country is seeing economic improvement elsewhere, too.

News Source:- https://edition.cnn.com/2020/09/15/economy/china-economy-retail-intl-hnk/index.html