China: Rising retail trade reflects robust private consumption
April 14, 2011
In March, nominal retail sales grew 17.4% over the same month last year. The reading overshot market expectations of a 16.5% increase and the 15.8% expansion registered in the January/February period. In the first quarter, retail sales gained 16.3%. The increase in retail sales partly reflects an acceleration in petroleum and related products, which rose 43.8% (January: +37.7% year-on-year). The surge in consumption was in line with rising levels of consumer confidence seen in March.