Retail Sales in China

China Retail Sales | Economic News & Forecasts

China - Retail Sales

Retail sales expand at fastest pace in 15 months in June

In June, nominal retail sales grew 9.8% on an annual basis, marking the fastest acceleration in over one year. The print was above both the 8.6% increase in May and market expectations of an 8.5% rise.

June’s acceleration mostly reflected a surge in auto sales as well as stronger sales of food and household appliances. About the surge in car sales, Yi David Wang, head of China economics at Credit Suisse, comments that:

“The uptick in retail sales appears to be driven by auto sales, which likely resulted from the slash in sales price as dealers attempt to clear their inventories ahead of new emission standards come into effect. Hence, we are less sure that this uptick will be sustainable going forward.”

On a seasonally-adjusted basis, retail sales expanded 0.96% in June, up from the 0.75% increase in May. Meanwhile, annual average growth in retail sales was stable at May’s 8.5% in June.

FocusEconomics Consensus Forecast participants expect retail sales to increase 8.7% in 2019, which is down 0.1 percentage points from last month’s estimate. In 2020, the panel foresees retail sales expanding 8.5%.

China - Retail Sales Data

2013  2014  2015  2016  2017  
Retail Sales (annual variation in %)13.1  12.0  10.7  10.4  10.3  

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China Retail Sales Chart

China Retail
Note: Annual variation of retail sales in %.
Source: National Bureau of Statistics of China and FocusEconomics calculations.

China Facts

Bond Yield3.18-0.40 %Jul 11
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