Pursuits
China's 'Golden Week' Sales Shows Consumer Spending Strength
- Restaurant, retail spending equivalent to Kuwait's annual GDP
- Japan was top pick among the 4 million who traveled overseas
Customers use tablets to design their own T-shirts at a Uniqlo store in Shanghai.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
China’s restaurant, cinema and travel sales surged in the ‘Golden Week’ national holiday, an indication that robust household spending remains a prop for a slowing economy.
The Oct. 1 to 7 holiday to celebrate the Communist Party’s founding of the People’s Republic in 1949 came this year after a period of historic volatility in China’s financial markets that rattled global confidence in the world’s second-biggest economy. While economists fretted, China’s workers splurged.