Retail Sales in China
China - Retail Sales
Retail sales rebound in June
Retail sales grew 3.1% year on year in June (May: -6.7% yoy). Growth was recorded in sectors such as food, clothing, IT, fuel and vehicles. However, subsectors such as furniture and construction and decoration materials saw contractions, likely a reflection of the ongoing downturn in the housing market.
On a monthly basis, retail sales increased 0.5% in seasonally-adjusted terms in June, which was better than May’s flat reading and marked the best result since December 2021. Meanwhile, the trend improved, with the annual average growth of retail sales coming in at 7.3% in June, up from May's 4.5%.
Our panelists see retail sales rising 6.5% in 2022, down 0.1 percentage points from last month’s forecast, and 9.0% in 2023.
China - Retail Sales Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Retail Sales (annual variation in %) | 10.7 | 10.4 | 10.3 | 9.0 | 8.1 |
China Retail Sales Chart
Source: National Bureau of Statistics of China and FocusEconomics calculations.
China Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 3.17 | -0.40 % | Dec 31 |
| Exchange Rate | 6.96 | -0.19 % | Jan 01 |
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Economic News
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China: House prices remains broadly unchanged in June
July 16, 2022
House prices in 70 large- and medium-sized cities were unchanged month-on-month in June, according to a weighted average index calculated by Refinitiv from data issued by the National Bureau of Statistics (NBS), following May’s 0.1% decrease.
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China: Retail sales rebound in June
July 15, 2022
Retail sales grew 3.1% year on year in June (May: -6.7% yoy).
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China: Cumulative nominal fixed investment growth eases in January–June, but picks up in June
July 15, 2022
Nominal urban fixed asset investment grew 6.1% in year-to-date terms in June (May: +6.2% yoy).
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China: Economy records weakest growth reading since Q1 2020 in Q2
July 15, 2022
GDP growth waned to 0.4% year on year in the second quarter, from 4.8% in the first quarter.
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China: Industrial output growth picks up pace in June
July 15, 2022
Industrial production rose 3.9% year on year in June (May: +0.7% yoy).
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