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JPMorgan on China economy, retail sales and consumption amid coronavirus

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The purchasing power of the Chinese consumer remains relatively robust but uncertainty from the coronavirus pandemic still lingers, according to Tai Hui, Asia chief market strategist at JPMorgan Asset Management.

China may have missed analysts’ expectations in June’s retail sales numbers, but Chinese consumers “are still in reasonably good shape,” Hui told CNBC’s “Squawk Box” on Friday.

However, “I think it’s the consumer sentiment that’s been impacted by for example, the very brief outbreak in Beijing last month,” he said.

A “key issue” remains over whether Chinese citizens are “feeling more comfortable” to travel domestically again, Hui said, pointing to increased chatter surrounding…



Source cnbc.com

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