China retail sales stabilise
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China retail sales growth is stabilising.
Figures from the National Bureau of Statistics show a 10.4 per cent year on year growth rate in the first half of 2015, to US$2.32 trillion.
That rate is a negligible 0.2 percentage points lower than the rate seen in the first quarter.
In the latest month, June, retail sales rose by 10.6 per cent, half a percentage point ahead of May.
The biggest mover was the catering sector, which recorded an 11.5 per cent year on year rise in the first six months of 2015. ‘Other consumer products’ was the next best performing category with growth of 10.3 per cent.
Online retail sales soared 39.1 per cent.
Questions & Answers
Q.What was the total value of retail sales in China for the first half of 2015?
What was the total value of retail sales in China for the first half of 2015?
Retail sales in China reached US$2.32 trillion in the first six months of 2015. This figure represents a 10.4 per cent year-on-year growth rate for the period.
Q.Which retail sector showed the strongest growth in the first half of 2015?
Which retail sector showed the strongest growth in the first half of 2015?
The catering sector was the best performer, achieving an 11.5 per cent year-on-year rise during the first six months of 2015. 'Other consumer products' grew by 10.3 per cent, making it the next strongest category.
Q.How did online retail sales perform compared to overall retail sales growth?
How did online retail sales perform compared to overall retail sales growth?
Online retail sales experienced a significant surge, growing by 39.1 per cent. This figure is considerably higher than the 10.4 per cent overall year-on-year growth rate for total retail sales.