China: Retail sales hit nine-month high in September
October 19, 2016
In August, nominal retail sales grew 10.7% year-on-year, a nine-month high which was above the 10.6% increase recorded in August and matched market analysts’ expectations. September’s print was mainly the result of stronger sales for oil and oil-related products, household applications, and clothes and textiles.
Compared to the previous month, retail sales expanded a seasonally-adjusted 0.85% in September (August: +0.87% month-on-month). As a result of September’s annual improvement, annual average growth in retail sales stabilized at August’s 10.5%.