China Retail April 2017

China

China: Growth in retail sales softens in April

May 15, 2017

In April, nominal retail sales grew 10.7% year-on-year, which was below both the 10.9% increase in March and the 10.8% increase that market analysts had expected. Growth slowed on the back of weaker sales in automobiles and household appliances, sub-sectors that performed well last month.

Retail sales expanded a seasonally-adjusted 0.79% in April compared to the previous month, broadly unchanged from March’s 0.76% rise. Annual average growth in retail sales was 10.4% in April, up from last month´s 10.3%.

The government set a retail sales growth target of 10.0% for this year. FocusEconomics Consensus Forecast participants expect retail sales to increase 10.2% in 2017, which is unchanged from last month’s estimate. In 2018, the panel foresees retail sales expanding 10.0%.


Author:, Economist

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China Retail April 2017 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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