China Holiday Spending Shrinks as Consumer Sentiment Stays Weak
Expenditures by Chinese consumers failed to pick up during the Dragon Boat Festival holiday even though more people hit the road, reflecting subdued consumer confidence in an economy reeling from US tariffs, despite a trade truce.
A total of 119 million trips were made domestically during the three-day holiday, rising 5.7% from a year earlier. Travelers spent more than 42.7 billion yuan ($5.9 billion), up 5.9%, figures provided by the Ministry of Culture and Tourism on Tuesday showed.
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