Growth rate down for China retail sales in July
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Chinese retail sales in July rose at a slower rate than in June, although the decline was largely attributed to falling sales of new motor vehicles.
Official government retail sales figures include motor vehicles, making it difficult to assess the true trend of ‘real’ retail sales in the market.
Chinese retail sales in July rose by 7.6 per cent year on year, compared to a 9.8-per-cent increase in June. The growth rate was slower than analysts had been forecasting.
July marked the 13th consecutive month of decline in China’s new-car market, affected by the imposition of stricter environmental controls and a generally cooling economy.
Questions & Answers
Q.What was the retail sales growth rate in China for July compared to the previous month?
What was the retail sales growth rate in China for July compared to the previous month?
Chinese retail sales in July rose by 7.6 per cent year on year. This was slower than the 9.8-per-cent increase recorded in June, marking a decline in the growth rate for the month.
Q.What factor primarily contributed to the slower retail sales growth rate in July?
What factor primarily contributed to the slower retail sales growth rate in July?
The decline in the overall retail sales growth rate was largely attributed to falling sales of new motor vehicles. This specific category significantly impacted the total official figures for the month.
Q.How long has China's new-car market been experiencing a decline?
How long has China's new-car market been experiencing a decline?
July marked the 13th consecutive month of decline in China’s new-car market. This sustained downturn in vehicle sales has been influenced by various factors affecting the industry.
Q.What are the reasons cited for the decline in China's new-car market?
What are the reasons cited for the decline in China's new-car market?
The decline in China's new-car market has been affected by the imposition of stricter environmental controls. Also, a generally cooling economy is also contributing to the challenging conditions for vehicle sales.
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