Despite a tumultuous year, the second largest economy while not expanding as much it wanted to, however did perform okay overall.
China’s retail sales of consumer goods, a major indicator of the country’s consumption strength, climbed 7.2 percent year on year in 2023, official data showed Wednesday. The peals and troughs experienced quarter on quarter, eventually evened out despite inflation concerns. The strong domestic market continue to help spur the economy as the country navigates the tough international climate of trade blocks and hostility.
The National Bureau of Statistics also released the value-added industrial output data, an important economic indicator, which went up 4.6 percent year on year in 2023, pointing to a slow down but still a modest figure comparing to other developed nations.
