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Chinese retail sales picked up in May but industrial production growth slowed, official data showed Monday, suggesting the recovery in the world’s second-largest economy remains uneven.
Leaders have struggled to kickstart growth since an initial burst followed the end in late 2022 of stringent COVID measures that had hammered businesses and consumer activity, while a property crisis and high unemployment have dented investor confidence.
In May, retail sales — a key measure of consumer spending — grew 3.
