China: Retail sales expand for second consecutive month in September
Retail sales rose 3.3% compared to the same month of the previous year in September, which followed August’s 0.5% increase. The result marked the strongest rise since December 2019 and exceeded the 1.6% increase expected by market analysts.
On a monthly basis, retail sales grew 2.3% in seasonally-adjusted terms in September, which was better than August’s 1.3% expansion and marked the best result since current records began in February 2011. Meanwhile, the trend pointed down, with the annual average variation of retail sales coming in at minus 3.6% in September, down from August’s minus 3.2%.