China’s cautious consumer confidence has been a “a dampener” for its fragile recovery, according to Albert Park, chief economist at the Asian Development Bank.
On Monday, the world’s second largest economy reported second quarter GDP numbers that largely missed expectations.
China’s economy grew 6.3% from a year ago in the quarter ending June, while retail sales for June rose by 3.1%, fueling concerns its post-Covid growth is faltering.
Read More : China’s Economic Recovery Hindered by Cautious Consumer Confidence, ADB Notes