China: Retail sales gather pace in September
October 18, 2012
In September, nominal retail sales rose 14.2% over the same month last year, which represents the strongest expansion recorded since March. The figure was a full percentage point above market expectations that had retail sales growth remaining at August's 13.2%. The improvement seen in September was mainly due to stronger growth in the petroleum and related products category. In contrast, growth in automobile sales moderated. Compared to the previous month, retail sales expanded a seasonally adjusted 1.46%, following the 1.36% increase tallied in August. Nevertheless, the trend continues pointing downwards, with annual average growth in retail sales falling from 15.2% in August to 14.9% in September.