China Retail June 2017

China

China: Growth in retail sales jumps to over one-year high in June

July 17, 2017

In June, nominal retail sales grew 11.0% year-on-year, above the 10.7% rise in May and the 10.6% expansion that market analysts had expected. June’s print, which marked the fastest acceleration since January 2016, mostly reflected stronger sales for cars and food.

Retail sales expanded a seasonally-adjusted 0.93% in June compared to the previous month, up from May’s 0.87% increase. Annual average growth in retail sales was 10.5% in June, up from May’s 10.4%.

The government set a retail sales growth target of 10.0% for this year. FocusEconomics Consensus Forecast participants expect retail sales to increase 10.3% in 2017, which is unchanged from last month’s estimate. In 2018, the panel foresees retail sales expanding 10.0%.


Author: Ricard Torné, Lead Economist

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China Retail June 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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