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%.
Author: Edward Gardner, Economist