China retail sales surprise
In this article (4)
October figures for China retail sales show a surprise 11 per cent leap year on year.
It seems that while the commentators were talking about how China’s economy was nodding off, consumers were out spending.
Total retail sales of consumer goods during the month reached 2,827.9 billion yuan, or US$442.939 billion.
From January to October, the total retail sales of consumer goods reached 24,435.9 billion yuan, up by 10.6 percent year-on-year.
October retail sales in urban areas rose 10.8 per cent and in rural areas by 12.2 per cent.
From January to October, retail sales in urban areas rose 10.4 per cent and in rural areas by 11.8 per cent.
Online sales for the first nine months of this year totalled 2,948.4 billion yuan, an increase of 34.6 per cent year-on-year. Sales of food and clothing rose 41.2 per cent and 24.4 per cent respectively.
Questions & Answers
Q.What was the total value of retail sales in China for October?
What was the total value of retail sales in China for October?
Total retail sales of consumer goods in China reached 2,827.9 billion yuan during October. This figure translates to US$442.939 billion for the month, indicating a strong performance against previous expectations.
Q.How did retail sales in urban areas compare to rural areas in October?
How did retail sales in urban areas compare to rural areas in October?
In October, retail sales in urban areas increased by 10.8 per cent, while sales in rural areas saw a larger rise of 12.2 per cent. This shows stronger growth in rural consumer spending during the month.
Q.Which product categories saw significant sales growth?
Which product categories saw significant sales growth?
Sales of food rose by 41.2 per cent, and clothing sales increased by 24.4 per cent. These specific categories experienced substantial growth, contributing to the overall positive retail figures reported.
Reader pulse
Are China's retail figures a blip or trend?
16,157 votes so far