China: The expansion in retail sales in April moderates to a one-year low
May 14, 2016
In April, nominal retail sales grew 10.1% year-on-year, which was below the 10.5% increase tallied in March. The reading fell short of the 10.6% increase market analysts had expected and represented a 12-month low. Weaker sales for oil and related products as well as for automobiles were behind the deceleration.
Compared to the previous month, retail sales expanded a seasonally-adjusted 0.80% in April (March: +0.86% month-on-month). As a result of the moderation observed in April, annual average growth in retail sales stabilized at last month’s 10.6%.