Instant noodle sales are skyrocketing, which could be bad news for China’s economy

[The_King]

instant noodle sales are currently rocketing upward in China, a fact which may have some major economic implications for the country.

China’s ultimate convenience food, consumed by migrant workers and college students across the nation, instant noodles have seen their ups and downs over the years. From 2000 to 2011, sales soared from 17.8 billion packets to 42.5 billion.

However, from 2013 to 2016, they dropped back down from 46.2 billion to 38.5 billion. The downturn was largely seen as a good thing for China’s economy, blamed on a surge in delivery apps in Chinese cities where customers could order cheap food to their door, as well as consumers having more disposable income in general, allowing them to buy better food.

But now, following a five-year-long slowdown, instant noodle sales are trending back upward again with revenue in the sector up 7.5 percent during the first half of this year, according to Chinese media reports.

There aren’t any fewer delivery options in China than there were earlier this decade, so economists have started to wonder if the surge in instant noodle sales may be a harbinger of an economic recession.

 

https://shanghai.ist/2019/09/16/instant-noodle-sales-are-skyrocketing-which-could-be-bad-news-for-chinas-economy/

[Standing Birdy]

Tiagong from moi tiong friends that the common people are tightening their belts