China reported on Wednesday that retail sales growth in the initial two months of this year only met forecasts, and that real estate investment decreased even more.

The 3.5% increase in retail sales was in line with forecasts. The majority of retail categories witnessed an increase in sales, although sales of expensive goods like automobiles & domestic appliances fell.

China’s Youth Unemployment Nearly 18%

According to the statistics agency, urban unemployment increased 0.1 percentage points from January to 5.6 percent in Feb. The report indicated that the 18.1 percent jobless rate for young people aged 16 to 24 remained continuously high.

“The outside situation is much more difficult, insufficient demand remains conspicuous & the basis for economic revival is not firm yet,” China’s NBS stated in a statement.

China’s economic growth slowly reviving

Fu used the term “high-quality development.” Which Beijing uses to describe a change away from simply focusing on quick expansion, to describe the shift away from setting too high of a target.

“At the same time unilateralism,  geopolitics, & protectionism are growing in the globalized economy and will progressively show their pressure for the world’s economic growth.”