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Analysts believe the platform will help address the lack of records on personal online creditworthiness and improve the national credit-scoring system.

Analysts expected sales to drop 12.3 percent. Consumer spending represents about two-thirds of the US economy.

Andrew Yang, a candidate for the Democratic nomination, who will take part in the party's first round of debates next week, tweeted: "When I'm President the plan is to be too busy solving problems to be having rallies for my re-election."

Analysts cited the ferocious efforts of international brands to expand their market share in China, the world's largest car market. Especially as Chinese customers had a preference for overseas brands, particularly in light of a slowdown in the market.

Analysts attributed the low PMI to slower economic expansion and the escalating US-China trade disputes and said if the situation continued to worsen, the authorities may ramp up stimulus measures to keep the economy on track.