China Retail August 2018

China

China: Growth in retail sales accelerates timidly in August

September 14, 2018

In August, nominal retail sales grew 9.0% on an annual basis, a slight acceleration from the 8.8% expansion registered in July. The print was above expectations of a 8.8% increase. August’s print was driven by stronger sales of household appliances and construction materials. Sales of petroleum and petroleum-related products increased at a stronger pace in August than in July. Meanwhile, car sales contracted at a fastest pace in August.

On a seasonally-adjusted basis, retail sales expanded 0.65% in August, edging down from the 0.69% increase in July. Annual average growth in retail sales inched down from 9.6% in July to 9.5% in August.

China Retail Sales Forecast


FocusEconomics Consensus Forecast participants expect retail sales to increase 10.0% in 2018, which is down 0.2 percentage points from last month’s estimate. In 2019, the panel sees retail sales expanding 9.9%.


Author: Ricard Torné, Lead Economist

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China Retail August 2018 0

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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