China Will Keep Trying to Spur Consumption Without Big Stimulus

China’s top leaders have signaled stronger stimulus to help fill a hole in consumer demand. That doesn’t mean Beijing will roll out a “bazooka” package just yet, or abandon its factory focus.

Senior officials last week endorsed their strongest pro-growth stance in a decade, indicating bigger government spending and more interest rate cuts. Boosting consumption was elevated to the top priority for only the second time in a decade, even before data released Monday showed retail spending unexpectedly slowing.