Chinese consumers opted for lower-priced goods amid fears over declining incomes and job security because of the Covid-19 pandemic. Photo: Reuters
Prices of consumer goods in China fall for the first time in five years as Covid-19 hits buyers’ confidence
- Prices of fast-moving consumer goods eased 2.1 per cent year on year from January to September
- A recovery in consumer spending in the second and third quarters was not enough to offset the sharp decline in the early months, says Kantar’s Jason Yu
Chinese consumers opted for lower-priced goods amid fears over declining incomes and job security because of the Covid-19 pandemic. Photo: Reuters
