China Retail May 2017

China

China: Growth in retail sales unchanged in May

June 15, 2017

In May, nominal retail sales in China grew 10.7% year-on-year, matching both April’s print and the result that market analysts had expected. May’s print reflected that weaker sales for oil and oil-related products and textile were offset by stronger sales for food and cars.

Retail sales expanded a seasonally-adjusted 0.86% in May compared to the previous month, up from April’s 0.9rise. Annual average growth in retail sales was 10.4% in May, unchanged from April.

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: Ricard Torné, Head of Economic Research

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China Retail May 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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