China: Retails sales hit a six-month high in June
July 15, 2016
In June, nominal retail sales grew 10.6% year-on-year, which was above the 10.0% increase tallied in May. The reading exceeded the 9.9% increase market analysts had expected and represented a six-month high. Stronger sales for automobiles, household appliances as well as for clothes were behind the acceleration.
Compared to the previous month, retail sales expanded a seasonally-adjusted 0.92% in June (May: +0.76% month-on-month). As a result of June’s healthy print, annual average growth in retail sales remained stable at last month’s 10.6%.