SHANGHAI/TOKYO — China’s retail sales grew slower than expected in April, as the trade war with the U.S. dented the impact of government subsidies.
Sales of retail goods rose 5.1% from a year ago, moderating from 5.9% in March, China’s National Bureau of Statistics said on Monday. The reading fell short of a consensus forecast of 6% in a Bloomberg poll. A trade-in consumer subsidy program partially supported sales of household appliances and automobiles.
