China Retail


China: Retail sales slow in July

August 9, 2011

In July, nominal retail sales grew 17.2% over the same month last year, which undershot the 17.7% increase tallied in June, a result market analysts had expected to see repeated. The increase in retail sales partly reflected strong growth in petroleum and petroleum related products, which jumped 40.6% (June: +36.2% year-on-year). On the other hand, automobile sales added 11.9% over the same month last year (June: +16.9% yoy). Seasonally adjusted data corroborate the slowdown suggested by the annual figures, with retail sales expanding 1.26% over the previous month, which came in below the previous month's 1.49%. The moderation in retail sales contrasted with the increase seen in consumer confidence in July on the back of purchases of non-necessities. The Bankcard consumer confidence index (BCII) tracks expenses of credit card users, including 200,000 individuals in affluent cities, and is conducted by Xinhua News Agency and China UnionPay.


Sample Report

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


China Economic News

More news

Search form