USA retail sales: -3% m-o-m
China retail sales: 0.56% m-o-m
As we can see from the US chart, US monthly retail sales would decline without the government's support (dole). However, China's monthly retail sales had been relatively positive for the past 1 year without the government's dole.
Therefore, China's retail sales are much stronger than the US since the Chinese have a higher savings rate and without government intervention.
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