Consumer goods show recovery in first quarter

Bold move: A woman carries her goods purchased at a shopping mall in Beijing. The China shoppers’ report revealed that consumers are gradually gaining confidence as pandemic-related measures are optimised, a good sign for the recovery. — AP

SHANGHAI: China’s fast-moving consumer goods (FMCG) sector showed signs of recovery in the first quarter, according to a report, and this trend is expected to continue in the rest of 2023 following modest growth last year.

Hit hard by the Covid-19 pandemic, China’s FMCG sector grew by 1.5% in 2022, joint research released by Bain and Co and Kantar Worldpanel showed on Tuesday.