Chart of the Day: China’s Consumer Spending Data Show Sluggish Housing Growth

Growth in urban household spending on housing slowed in the first half of 2023, trailing a rebound in consumption of discretionary goods and services such as education and entertainment, government data show.

In eight major categories of consumption listed by the National Bureau of Statistics (NBS), only growth in housing retreated, with outlays on medical care, transport, and education, culture and recreation surging from a low base of comparison with the first half of 2022 when the country was gripped by the Covid-19 pandemic, according to data released by the bureau on Monday.