China Retail December 2017


China: Growth in retail sales decelerates in December

January 18, 2018

In December, nominal retail sales grew 9.4% year-on-year, the slowest pace registered since June 2003—excluding January and February which have strong seasonality. The figure, which came in below analysts’ expectations of a 10.2% rise, follows a 10.2% increase logged in November. The decline largely resulted from slowing auto sales in December.

On a seasonally-adjusted monthly basis, retail sales expanded 0.70% in December, down from the 0.81% increase in November. Annual average growth in retail sales came in at 10.2% in December, down from 10.4% in November.

China Retail Sales Forecast

FocusEconomics Consensus Forecast participants expect retail sales to increase 10.4% in 2018, which is unchanged from last month’s estimate. In 2019, the panel foresees retail sales expanding 10.0%.

Author:, Economist

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China Retail Chart

China Retail December 2017

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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