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China Retail September 2019

China: Retail sales jump higher in September

In September, nominal retail sales grew 7.8% on an annual basis, surpassing the 7.5% growth recorded in August and matching market expectations. September’s pick-up reflected accelerated growth in household appliance sales and a reduced rate of contraction in auto and oil product sales.

On a seasonally-adjusted basis, retail sales expanded 0.70% in September, closely matching the 0.67% increase from August. Meanwhile, annual average growth in retail sales inched down from 8.3% in August to 8.2% in September.

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