China has reported data that suggests slower consumer growth, but industrial activity has remained consistent.   JMI Wealth Director Andrew Kelleher told Mike Hosking “There’s not been enough trickle-down to consumers and households.”  Kelleher said “Consumption is down in the doldrums – retail sales are problematic in New Zealand and around the world – in China they rose 2.3% in April, which is well below expectations.”  LISTEN ABOVE.    See omnystudio.com/listener for privacy information.