China's 618 shopping festival sales grow just 4% in June 2026, down sharply from 15.2% last year, as consumer spending malaise persists amid weak retail and property markets.

China's 618 shopping festival growth slows sharply as consumer spending malaise persists

Citizens gather to purchase and scratch instant lottery tickets at a lottery ticket booth on June 21, 2026 in Guangzhou, Guangdong Province of China. Vcg | Visual China Group | Getty ImagesBEIJING — China's consumer spending slowdown persisted in June, with growth during one of the country's largest online shopping festivals weakening sharply from a year earlier. Total online sales during the annual "618" shopping event from May 13 to June 18 grew by 4% from a year earlier, a sharp drop from the...