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.