China: Retails sales slow to an over-one-year low in May
June 12, 2016
In May, nominal retail sales grew 10.0% year-on-year, which was below the 10.1% increase tallied in April. The reading fell short of the 10.1% increase market analysts had expected and represented a 13-month low. Weaker sales for oil and related products, household applications as well as for food and beverages were behind the deceleration.
Compared to the previous month, retail sales expanded a seasonally-adjusted 0.76% in May (April: +0.79% month-on-month). As a result of the mild moderation observed in May, annual average growth in retail sales was stable at last month’s 10.6%.