China’s Retail Spending Picks Up, as Housing Slump Deepens

HONG KONG—China’s economy showed modest signs of improvement in October as consumer spending picked up, but the country’s prolonged property slump worsened.

Retail sales rose 7.6% compared with the same period last year, when stringent Covid lockdowns kept a tight lid on spending activities, according to data released Wednesday by China’s National Bureau of Statistics. October’s sales accelerated from September’s 5.5% year-over-year growth and topped the 7% expected by economists.