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Economy

Chinese New Year spending grows 10%, the lowest since 2005

Stock market turbulence caps growth while travel and e-commerce gain

China's consumers shelled out for goods and experiences this Lunar New Year.   © Kyodo

SHANGHAI -- Chinese consumers spent 926 billion yuan ($146 billion) shopping and in restaurants during the Lunar New Year holidays of 2018 -- 10% more than during last year's holiday season, according to the Ministry of Commerce.

It was the weakest spending growth for the New Year period since 2005, as a real estate slowdown and stock market turbulence ahead of the holidays may have left investors feeling less wealthy than in the past.

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