China's retail sales drop for first time in three years; new home prices fall at faster pace in May

China's retail sales fell for the first time in over three years and slid 0.6% in May, data from the National Bureau of Statistics (NBS) showed on Tuesday (June 16), which was the first monthly fall since December 2022. Property investment extended its decline in the first five months, dropping 16.2% compared with the same period last year after falling 13.7% in January-to-April. Property sales and new construction also fell more sharply. Investment data was also much weaker than expected. Fixed-asset investment fell 4.1% in the first five months of 2026, following a 1.6% decline in January-April. Economists had expected a 2% fall.

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