China's shoppers are still on strike and youth unemployment is rising
CNN
China's economy showed some signs of improvement in May, but retail sales contracted for a third month in a row, indicating that Covid outbreaks continued to significantly depress consumer spending.
Retail sales fell 6.7% in May from a year ago, according to China's National Bureau of Statistics on Wednesday. That was slightly better than the 11.1% plunge in April, but still marked a third straight month of declines.
There was more bad news on the economy, with youth unemployment soaring to a fresh record, as services industries that tend to hire younger workers were hit hardest by business shutdowns and restrictions on consumer activities.
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