REUTERS/Jason Lee/File Photo
- Growth in disposable income slowed in China last year while living costs rose, highlighting the increasing strains Chinese households are facing as the economy cools.
- Beijing is counting on the nation's vast consumer base to cushion the broader slowdown.
- But as the outlook grows more clouded Chinese are tightening their belts, buying fewer cars, electronics and home appliances.
- Disposable income per capita rose 6.5 percent last year to 28,228 yuan ($4,224), slowing significantly from the 7.3 percent pace for 2017, according to data published by the National Bureau of Statistics on Thursday.
BEIJING (Reuters) - Growth in disposable income slowed in China last year while living costs rose, highlighting the increasing strains Chinese households are facing as the economy cools.
Beijing is counting on the nation's vast consumer base to cushion the broader slowdown, but as the outlook grows more clouded Chinese are tightening their belts, buying fewer cars, electronics and home appliances.
See the rest of the story at Business Insider
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