China: Growth in retail sales improves slightly in November
December 12, 2014
In November, nominal retail sales grew 11.7% over the same month last year. The reading was slightly above the 11.5% increase recorded in the previous month and represented the strongest expansion in three months. The mild acceleration, which just barely overshot market expectations of an 11.5% expansion, reflected stronger growth in clothing and footwear, and household.
Compared to the previous month, retail sales expanded a seasonally-adjusted 0.89% in November (October: +0.98% month-on-month). Despite the moderate pick-up in sales observed in November, annual average growth in retail sales inched down from October’s 12.3% to 12.1%, which represented the lowest reading since August 2004.