Assessing the Health of China's Economy

Jen Chang, Chief China Economist at Barclays, discusses China's economic performance, highlighting industrial production and retail sales. The data aligns with expectations, showing a gradual economic moderation. Factors like seasonal effects, pollution control, and the National People's Congress impact the economy. Retail sales were lower due to Singles Day, but consumption remains strong, driven by household savings and consumer upgrading, especially in lower-tier cities.

How has household consumption contributed to the economic growth in China according to the text?

What trends in consumer behavior were observed in the context of the Chinese economy?