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Chinese Discretionary Spending Slowing as Singles’ Day Nears

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Executive Summary

As China prepares for the 10th annual Singles’ Day shopping festival, we take note of the following recent developments in the Chinese economy:

  • Comps have been weakening at large food and beverage merchants.
  • Consumers are registering lower intention to spend on big purchases.
  • Consumer confidence has been declining.
  • China’s GDP growth slowed slightly quarter over quarter in the third quarter, while retail sales in September grew strongly year over year.

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