China's Golden Week Holiday Spending Dips in Latest Red Flag for Economy
Chinese holidaymakers' average spending dipped to a three-year low over this year's eight-day Golden Week holiday, dashing hopes that a domestic stock market rally would encourage cautious consumers to open their wallets. Weak consumption has weighed on the world's second-largest economy this year as policymakers navigate pressure on multiple fronts ranging from U.S. President Donald Trump's trade policies to extreme weather, excessive competition in the domestic market, and chronic weakness in the property sector.
In China, the Mid-Autumn festival is an important one for family gatherings, and this year it coincided with the National Day holiday...
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