SHANGHAI: Shanghai retail sales expanded 8 percent from a year earlier to 400.6 billion yuan (US$64.5 billion) in the first five months, according to the Shanghai Statistics Bureau today.
The pace was faster than the increase of 7.8 percent in the first four months, indicating a stabilizing economy.
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Shanghai’s gross domestic product expanded 6.6 percent from a year earlier in the first quarter, slower than the national pace of 7 percent during the same period and 0.4 percentage points less than the city’s expansion last year.
