China: Retail sales record softest contraction since December 2019 in June
July 16, 2020
Retail sales dropped 1.8% year-on-year in June (May: -2.8% yoy). June's result marked the smallest decline since December 2019.
On a monthly basis, retail sales increased 1.34% in seasonally-adjusted terms in June, which was above May’s 0.85% expansion and marked the best result since March 2013. Meanwhile, the trend pointed down, with the annual average variation of retail sales coming in at minus 1.9%, down from May's minus 0.9% reading.