China Retail June 2016


Retails sales hit a six-month high in June

In June, nominal retail sales grew 10.6% year-on-year, which was above the 10.0% increase tallied in May. The reading exceeded the 9.9% increase market analysts had expected and represented a six-month high. Stronger sales for automobiles, household appliances as well as for clothes were behind the acceleration.

Compared to the previous month, retail sales expanded a seasonally-adjusted 0.92% in June (May: +0.76% month-on-month). As a result of June’s healthy print, annual average growth in retail sales remained stable at last month’s 10.6%.

FocusEconomics Consensus Forecast participants expect retail sales to increase 10.5% in 2016, which is unchanged from last month’s estimate. In 2017, the panel foresees an expansion in retail sales of 10.4%.

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China Retail Chart

China Retail June 2016

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 for January and February are reported together.
Source: National Bureau of Statistics of China (NBS) and FocusEconomics calculations.

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