Figures from China's statistics bureau released Monday show a decline in urban household disposable income growth and domestic consumption's share of China's economic growth, The Wall Street Journal reported. In the first half of 2013, disposable income growth for Chinese urban families slowed to 6.5%, down from 9.7% a year earlier and lagging behind the economic growth rate of 7.5%. The weak consumption numbers seem to indicate that the central government's push to recalibrate the economy away from investment spending and toward domestic consumption is losing steam.
Source:
