China: Retail sales slow in October
November 14, 2016
In October, nominal retail sales grew 10.0% year-on-year, a five-month low, which was below the 10.7% increase recorded in September. The print came in well below the 10.7% increase that market analysts had expected and was mainly the result of weaker sales for automobiles and food and beverages.
Compared to the previous month, retail sales expanded a seasonally-adjusted 0.71% in October (September: +0.81% month-on-month). As a result of October’s annual deceleration, annual average growth in retail sales inched down from September’s 10.5% to 10.4%, which represented the weakest reading in over a decade.