Retail in Asia

In Sectors

Consumers in driving seat

Rising profits in China for Yum Brands and slowing sales for electrical-equipment maker Eaton are signs of a shift in the mainland economy towards one driven more by consumers.

Yum, the operator of Pizza Hut and KFC restaurants, is counting on rising incomes in the world’s second-largest economy and said one measure of operating profit rose 14 percent in the first quarter. Eaton cited the same "fundamental change" in the economy towards consumption for weakness in its business there.

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(Source: scmp.com)