China: Retails sales accelerate in August
September 13, 2016
In August, nominal retail sales grew 10.6% year-on-year, which was above the 10.2% increase recorded in July and expected by market analysts. August’s print was mainly the result of stronger sales for automobiles as well as for oil and oil-related products.
Compared to the previous month, retail sales expanded a seasonally-adjusted 0.83% in August (July: +0.79% month-on-month). Despite August’s healthy print, annual average growth in retail sales fell from 10.6% in July to 10.5% in August, which was the lowest value since April 2004.