More and more signs point to slower spending in China. Analysts say not to worry

Plummeting car sales, sluggish retail sales data, a cooling housing market — those are all stoking fears of weakening consumer spending in China amid its slowing economy. But analysts say they're not concerned, and expect Chinese shoppers to keep spending.

On Monday, China's top auto industry association reported that from a year earlier to 2.37 million. That marked the seventh straight month of declining sales in the world's largest auto market.

Citigroup's chief economist of China, Li-gang Liu, said he expects Beijing to announce some new measures to boost consumption, particularly in the auto sector.