China Retail December 2018


China: Growth in retail sales inches up in December

January 21, 2019

In December, nominal retail sales grew 8.2% on an annual basis, a slight acceleration from the 8.1% expansion registered in November. The print was above market expectations of an 8.1% increase and mostly reflected softer contractions in sales of automobiles and oil and oil-related products.

On a seasonally-adjusted basis, retail sales expanded 0.55% in December, edging up from the 0.50% increase in November. Meanwhile, annual average growth in retail sales inched down from 9.1% in November to 9.0% in December.

China Retail Sales Forecast

FocusEconomics Consensus Forecast participants expect retail sales to increase 9.3% in 2019, which is unchanged from last month’s estimate. In 2020, the panel foresees retail sales expanding 8.9%.


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China Retail Chart

China Retail December 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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