China: Retail sales continues to be the bright spot in October
November 11, 2015
In October, nominal retail sales grew 11.0% over the same month last year, which was slightly up from September’s 10.9% increase. The reading, which overshot the 10.9% increase market had expected, mostly reflected stronger sales of automobiles, food and beverages as well as of clothes.
Compared to the previous month, retail sales expanded a seasonally-adjusted 0.83% in October (September: +0.87% month-on-month). As a result of the stronger readings observed in the last few months, annual average growth in retail sales stabilized this month, remaining at September’s 10.8%. The print, nevertheless, represented the lowest reading since April 2004.