Chinese retail sales rose in August for the first time since the coronavirus pandemic struck, data showed Tuesday, as officials try to kickstart the crucial domestic consumer sector to fuel recovery in the world's number-two economy.
Spending had previously remained sluggish despite China bringing the virus largely under control, with shoppers still cautious owing to global uncertainty -- but economists believe the latest data suggests recovery is on a firmer footing.
The key indicator of consumer sentiment rose 0.5 percent on-year last month. A poll of analysts by Bloomberg News had forecast no growth.
