China’s ‘golden week’ loses some of its shine as consumers show reluctance to spend amid US trade war

China’s National Day holiday during the first week of October, dubbed “golden week” for merchants, lost some of its shine this year as consumers became more cautious with their retail and tourism spending amid rising economic uncertainties.Retail and catering sales rose 8.5 per cent between October 1 to 7 from a year ago to 1.52 trillion yuan ($212.6 billion),, according to China’s Ministry of Commerce, decelerating from a growth rate of 9.5 per cent last year, marking the slowest growth rate…

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