China Consumer Stocks Slide as Economic Imbalances Deepen

China’s consumer companies are having a difficult time.

Their stock prices fell sharply over the past six months.

People are spending very little, with retail sales growing only slightly in the periods reported.

Consumer-durable companies also earned much less than investors expected.

Many investors are putting their money into artificial-intelligence companies instead of consumer businesses.

Reports say China’s property sector and other important industries are struggling.

Local governments have accumulated very large debts, and unemployment is rising.

Chinese officials report stronger economic growth than some independent analysts estimate.

These differences have increased debate about how healthy China’s economy really is.