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China Retail March 2020

China: Retail sales remain dire in March

In March, nominal retail sales tumbled 15.8% on an annual basis. The print represented only a small improvement compared to the 20.5% drop in January-February and below the 10.0% decline that market analysts had expected. Retail sales remained weak across all the sub-categories.

On a seasonally-adjusted basis, retail sales rose 0.2% in March, contrasting the 20.5% drop in February. Meanwhile, annual average growth in retail sales fell from 3.3% in February to 1.2% in March.

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