China: Growth in retail sales accelerates in March
April 17, 2017
In March, nominal retail sales in China grew 10.9% year-on-year, which was above both the 9.5% increase in the January-February period and the 9.7% increase that market analysts had expected. January-February’s print had represented the weakest growth in over a decade. The acceleration came on the back of a rebound in automobile sales and stronger sales for household appliances.
Compared to the previous month, retail sales expanded a seasonally-adjusted 0.84% in March (February: +0.96% month-on-month). Annual average growth in retail sales was stable at February’s 10.3% in March, thereby remaining at the lowest rate since April 2004.