China’s current economic slowdown differs from previous downturns because this time Chinese consumers are taking a hit. A less-certain economic outlook, the trade fight with the U.S., rising living costs and expectations of slower income growth are weighing on household spending. Meanwhile, slowing sales, rising costs and trade-related uncertainties are squeezing businesses’ profit margins, from retailers to manufacturers. Retail-sales growth—which has been fairly resilient during previous slowdowns—dropped to its lowest...

Source: Wall Street Journal January 03, 2019 11:09 UTC