China: Growth in retail sales in December accelerates to four-month high
January 20, 2015
In December, nominal retail sales grew 11.9% over the same month of the previous year. The reading was slightly above the 11.7% increase recorded in the previous month and represented the strongest expansion in four months. The acceleration, which overshot market expectations of an 11.7% expansion, reflected stronger growth in sales of automobiles, food and beverages, and household appliances.
Compared to the previous month, retail sales expanded a seasonally-adjusted 1.01% in December (November: +0.90% month-on-month). In the full year 2014, retail sales expanded 12.0%, which was below the 13.1% increase tallied in 2013 and represented the weakest annual growth since 2003.