China Retail


Retail sales inch down in December

In December, nominal retail sales grew 13.6% over the same month of the previous year, which was a tad below the 13.7% increase tallied in November. The expansion, which was in line with market expectations, mainly reflects a deceleration in sales of food and beverages as well as household appliances.

Compared to the previous month, retail sales expanded a seasonally-adjusted 1.24% in December (November: +1.31% month-on-month). In the full year 2013, retail sales expanded 13.1%, which was down from the 14.3% increase recorded in 2012 and marked the weakest expansion since 2005.

FocusEconomics Consensus Forecast participants expect retail sales to rise 13.7% in 2014, which is unchanged from last month's estimate. In 2015, the panel sees retail sales expanding a lesser 13.4%.

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China Retail Chart

China Retail December 2013

Note: Month-on-month changes of seasonally adjusted nominal retail sales index and year-on-year variation in %. Owing to seasonal factors related to the Lunar New Year, annual figures in January and February are reported together.
Source: National Bureau of Statistics of China (NBS).

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