Goldman Sachs China Consumer Insight: Labor Day holiday spending exceeds expectations, consumer spending hits bottom and rebounds, but subsequent fluctuations may continue.

The Wise Finance APP learned that during this year's Labor Day holiday, data collected by Goldman Sachs on the Chinese retail and consumer industry showed that despite a high base, holiday consumer spending still achieved steady growth. Especially in the face of the pessimism caused by the US tariffs in April, this performance exceeded expectations. This once again confirms Goldman Sachs' view that consumption has hit bottom and rebounded, but Goldman Sachs also recognizes that consumption may still continue to fluctuate, and the sustainability of consumption after the holidays needs to be closely monitored. Among the key categories covered by Goldman Sachs, catering and home appliances performed relatively well; key tourist cities continued to show strong performance during the Labor Day holiday.