China Retail November 2017


China: Retail sales accelerate in November

December 14, 2017

In November, nominal retail sales grew 10.2% year-on-year, above the 10.0% rise in October and in line with market expectations. November’s higher print compared to October mostly reflected stronger sales for oil and oil-related products, clothes and household appliances.

Retail sales expanded a seasonally-adjusted 0.83% in November compared to the previous month, up from October’s 0.77% increase. Annual average growth in retail sales was stable at October’s 10.4% in November.

FocusEconomics Consensus Forecast participants expect retail sales to increase 10.2% in 2018, which is unchanged from last month’s estimate. In 2019, the panel foresees retail sales expanding 9.9%.

Author: Ricard Torné, Lead Economist

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China Retail Chart

China Retail November 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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