China says consumption growth likely to slow further this year [Reuters]
Estee Lauder Companies, Inc. (The) (EL)
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Source: Reuters
China says consumption growth likely to slow further this year | Reuters 3 Min Read BEIJING (Reuters) - Consumption growth in China is “very likely” to slow further this year as the economy cools, the commerce ministry said on Tuesday, underlining the rising risks facing the Asian giant as it navigates a trade war with the United States. Chinese authorities have already rolled out a flurry of support measures to temper the effects of the trade dispute on businesses and investment, and are counting on the nation’s vast consumer base to cushion a broader economic slowdown. “The medium- to long-term accumulated contradictions and risks throughout economic development are going to become more prominent in 2019,” Wang Bin, a commerce ministry official told reporters during a briefing. “The pressure facing the consumer market will increase and consumption growth is very likely to slow further.” Wang said softness in retail sales last year, which saw growth averaging 9 percent for the slowes
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EL
Earnings
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EL
Sec Filings
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- 3/18/24 - Form 4
- 3/18/24 - Form 4
- EL's page on the SEC website