MarketWatch.com reported that “China is unlikely to surpass the U.S. in retail sales this year as previously expected thanks to the damaging effect of the current trade conflict between the two powers, but that milestone is likely to happen in 2021.“
MarketWatch said that a recent forecast made and published the research company eMarketer had said that it was expecting China retail sales to dominate this year as recently as the fourth quarter.
“The US-China trade turmoil is even more of a concern for China now that domestic demand impacted one of the country’s largest sectors: auto,” eMarketer forecasting director Monica Peart said in a new report. “Other sectors such as manufacturing and construction still show strong growth. But with two simultaneous market challenges, retail sales may struggle to achieve the national growth target of six percent 6.5 percent for the year.”