TribLIVE

| USWorld


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Chinese retailers uncertain, gloomy

Daily Photo Galleries

By Reuters
Sunday, Sept. 1, 2013, 8:39 p.m.
 

If things are really starting to look up for China's economy, as a recent spate of better-than-expected government numbers seems to suggest, nobody appears to have told its biggest retailers.

A Reuters review of first-half earnings showed that more than 20 Chinese companies selling everything from footwear to food were not convinced the economic slowdown had bottomed out, and neither were their traditionally thrifty customers.

“The reality behind the numbers is gloomier,” said leading footwear retailer Belle International Holdings Ltd as a raft of data, supported by government statements, indicated the world's second largest economy may be stabilizing after two years of slumping growth.

Economists have long doubted the accuracy of official economic data, and this skepticism has increased as China plots a course toward consumption-led growth.

 

 
 


Show commenting policy

Most-Read World

  1. Dozens in Boko Haram reportedly killed as Nigeria repels attack
  2. Ukraine rejects Russia’s call for cease-fire, warns of ‘great war’ against Russian aggressor
  3. Detained Americans plead U.S. for assistance
  4. Afghan power-sharing deal breaks down
  5. Pakistani premier may be forced out as protests turn violent
  6. Ex-Libyan PM tasked with forming new government
  7. British terror suspects may be stripped of passports
  8. Pressure on European Central Bank grows as economic recovery founders
  9. Russian tanks inside Ukraine
  10. Yemenis protest against Shiites
  11. EU preps further sanctions on Russia as ‘full-scale war’ looms in Ukraine
Subscribe today! Click here for our subscription offers.