China: Growth in retail sales improves mildly in May
June 11, 2015
In May, nominal retail sales grew 10.1% over the same month last year, which was slightly up from April’s multi-year low of a 10.0% increase. The reading, which was in line with market expectations, mostly reflected faster growth in sales for clothes and textiles as well as for automobiles.
Compared to the previous month, retail sales expanded a seasonally-adjusted 0.81% in May (April: +0.72% month-on-month). As a result of the disappointing figures observed at the outset of the year, annual average growth in retail sales fell from April’s 11.4% to 11.2% in May, which represented the lowest reading since May 2004.