China Retail December 2016


China: Retail sales accelerate again in December

January 20, 2017

In December, nominal retail sales in China grew 10.9% year-on-year, a twelve-month high, which was above the 10.8% increase in November. The print came in above the 10.7% increase that market analysts had expected and was mainly the result of stronger sales for automobiles, oil and oil-related products, and food and beverages.

Compared to the previous month, retail sales expanded a seasonally-adjusted 0.89% in December (November: +0.98% month-on-month). Following an uninterrupted downward trajectory since 2012, the trend now seems to be towards stabilization. Annual average growth in retail sales remained at 10.4% for the third consecutive month in December.

FocusEconomics Consensus Forecast participants expect retail sales to increase 10.1% in 2017, which is down 0.3 percentage points from last month’s estimate. In 2018, the panel foresees retail sales expanding 10.0%.

Author: Ricard Torné, Lead Economist

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