The spent Chinese consumers take off during a great holiday

The spending of Chinese consumers fell during a major holiday, despite the increase in the number of travelers, suggesting that the commercial ceasefire with the United States has failed to revive confidence within an economy suffering from the effects of customs duties imposed by Donald Trump. Travelers spent more than $ 42.7 billion (5.9 billion dollars) during 119 million local trips they made under the three -day Dragon Boats holiday, according to data issued by the Ministry of Culture and Tourism on Tuesday. The numbers show that both spending and the number of trips recorded more than 5% compared to last year. This means that the average spending for each trip reached 359 Yuan, a 2.2% decline on an annual basis, according to the “Bloomberg” accounts based on official numbers. The spending decreases compared to the holiday in April, the decline became more serious compared to the “faculty of Circle” holiday in April, which also stretches three days, as the average spending reached 457 yuan per trip at the time. During the holidays, expenses are an important measure of consumption power in China, which has always been the worst link in an economy of $ 19 trillion, and is currently dependent on domestic demand to compensate for external shocks and absorbing the surplus in productive capabilities. The Dragon Boat Day is an economic indication that commemorates the dragon boat of the old poet “Chu Yuan” by boat racing and characterized by eating traditional rice balls. This holiday is one of seven official holidays spanning a few days in China, which traditionally exploits people for shopping, travel and relaxation. The festive atmosphere during the holidays that ended Monday is relatively faded in various sectors of the consumer economy in China, especially in light of the rain in large parts of the country. Despite the increase in the total revenue the films achieved to sell tickets during the holidays by 21% year -on -year to 460 million yuan, they did not exceed more than half the level recorded during the same holiday in 2023, according to the data collected by the electronic platform ‘Maoyan Entertainment’ to sell tickets. The data of the National Immigration Division showed that the total boundary flights reached 5.9 million, an increase of 2.7% year -on -year. The number of foreign trips to the country jumped by 59% during the holidays, after China allowed the citizens of 43 countries to enter without a visa. Note the spending of Chinese families. This data gives a look at the pace of consumption in China, as families are cautious with expenses amid a fog surrounding the labor market and income. The economy is still facing internal crises, especially the decline in the property sector, economic deflation and commercial tensions with the United States. Analysts in a “Bloomberg” survey expect the growth of retail sales annually for the second consecutive month in May. The trade war strikes the demand and weakening prices, David Co., an analyst at Bloomberg Economics, says: “The fall in the prices of consumers and producers in China reflects the weakness in the state of the economy, at the beginning of the impact of the trade war on external demand. had the consumption of government, and it did not follow up, which has achieved in the government’s efforts to and tangible results since the beginning of the fourth quarter of the government, and in the government’s efforts. to reduce the number of employees. The manufacturing sector has recorded the worst achievement since 2022, and the manufacturing sector in China has seen the worst decline since September 2022, with the contraction of new orders and companies reducing the number of employees, according to the results of a special survey published Tuesday joint “Kaishin” and “Standard & Poor Global”. Brian Gong and Elisha Yap, the two City Group analysts, wrote in a research note “In the future, we consider the performance of the next summer holidays more important to evaluate the demand for travel, and we believe that investors will monitor the weekly occupancy data for local hotels.”