China: Retail sales pick up in June
July 15, 2015
In June, nominal retail sales grew 10.6% over the same month last year, which was up from May’s 10.1% increase. The reading, which exceeded the 10.2% increase market had expected, mostly reflected faster growth in sales for automobiles and households appliances.
Compared to the previous month, retail sales expanded a seasonally-adjusted 0.96% in June (May: +0.86% month-on-month). As a result of the disappointing figures observed at the outset of the year, annual average growth in retail sales fell from May’s 11.2% to 11.1% in June, which represented the lowest reading since May 2004.