China Retail August 2017

China

China: Retail sales growth cools in August

September 14, 2017

In August, nominal retail sales grew 10.1% year-on-year, below the 10.4% rise in July and the 10.5% expansion that market analysts had expected. August’s slower print compared to July reflected weaker retail sales growth in food and beverages, oil and household appliances. Lower retail sales growth in cars also contributed to the slowdown. Clothing and textile sales, however, improved in August compared to July.

Retail sales expanded a seasonally-adjusted 0.76% in August compared to the previous month, up from July’s 0.71% increase. Annual average growth in retail sales was 10.4% in August, slightly down from July’s print of 10.5%.

The government set a retail sales growth target of 10.0% for this year. FocusEconomics Consensus Forecast participants expect retail sales to increase 10.3% in 2017. In 2018, the panel foresees retail sales expanding 10.0%, which is up 0.1 percentage points from last month’s estimate.


Author:, Economist

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China Retail August 2017

Note: Month-on-month changes of seasonally adjusted nominal retail sales index and year-on-year variation in %. Owing to seasonal factors related to the Lunar New Year, annual figures for January and February are reported together.
Source: National Bureau of Statistics of China (NBS) and FocusEconomics calculations.


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