Hopes of consumption rebound fizzle out
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Consumption growth slowed in August.
Per stats bureau data (NBS) data, released Monday:
Retail sales of consumer goods rose just 3.4% y/y, even slower than July’s meager 3.7% expansion
Retail sales of services grew 4.4% y/y, easing from 4.6% growth in July
Excluding autos, sales of big-ticket item...