China has reported data that suggests slower consumer growth, but industrial activity has remained consistent.  

JMI Wealth Director Andrew Kelleher told Mike Hosking “There’s not been enough trickle-down to consumers and households.” 

Kelleher said “Consumption is down in the doldrums – retail sales are problematic in New Zealand and around the world – in China they rose 2.3% in April, which is well below expectations.” 

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