China: Retail sales continue to gain momentum in November
December 9, 2012
In November, nominal retail sales increased 14.9% over the same month the previous year, which represents the strongest expansion recorded since March. The figure overshot both the previous month's 14.5% rise and market expectations of a 14.6% increase. The improvement seen in November was mainly due to stronger growth in automobiles sales as well as in household appliances. In contrast, growth in the petroleum and related products category slowed.
Compared to the previous month, retail sales expanded a seasonally adjusted 1.47%, following the 1.35% increase tallied in October. Despite the robust annual increase, the trend continues to point downwards, with annual average growth in retail sales falling from 14.7% in October to 14.5% in November.