Analysis: China Had Some Strong Holiday Spending Numbers, but Don’t Break Out the Champagne

Despite the strong consumer spending numbers for tourism, restaurants and cinemas from over the Lunar New Year holiday this year, some analysts are cautioning against reading too much into the data.

It remains to be seen whether a handful of strong data points from the holiday herald a sustained rebound in household spending that can buoy the overall economy, they said, as many people remain unwilling to open their wallets too wide given lingering concerns over the job market and economic growth.