China: Retail sales accelerate strongly in November
December 14, 2016
In November, nominal retail sales grew 10.8% year-on-year, an eleven-month high, which was above the 10.0% increase in October. The print came in well above the 10.2% increase that market analysts had expected and was mainly the result of stronger sales for automobiles, oil and oil-related products, and household appliances.
Compared to the previous month, retail sales expanded a seasonally-adjusted 0.97% in November (October: +0.75% month-on-month). Following an uninterrupted downward trajectory since 2012, the trend now seems to be towards stabilization. Annual average growth in retail sales stabilized at the previous month’s 10.4%.