China Retail


China: Retail sales rise to a nine-month high in September

October 19, 2015

In September, nominal retail sales grew 10.9% over the same month last year, which was slightly up from August’s 10.8% increase. The reading, which overshot the 10.8% increase market had expected, mostly reflected a softer drop in oil and oil-related products along with stronger growth in sales of grain and foodstuff.

Compared to the previous month, retail sales expanded a seasonally-adjusted 0.87% in September (August: +0.91% month-on-month). As a result of the disappointing figures observed at the outset of the year, annual average growth in retail sales inched down from August’s 10.9% to 10.8% in September, which represented the lowest reading since April 2004.

The government set a retail sales growth target of 13.0% for this year. FocusEconomics Consensus Forecast panel participants expect retail sales to increase 10.8% in 2015, which is up 0.1 percentage points from last month’s estimate. In 2016, the panel foresees an expansion in retail sales of 10.9%, which is unchanged from last month’s projection.

Author: Ricard Torné, Lead Economist

Sample Report

Looking for forecasts related to Retail in China? Download a sample report now.


China Retail Chart

China Retail September 2015

Note: Month-on-month changes of seasonally adjusted nominal retail sales index and year-on-year variation in %. Owing to seasonal factors related to the Lunar New Year, annual figures for January and February are reported together.
Source: National Bureau of Statistics of China (NBS) and FocusEconomics calculations.

China Economic News

More news

Search form