City skyline in China

Retail in China

China Retail

Retail sales growth eases in May

Retail sales rose 12.7% year on year in May (April: +18.4% yoy). The reading undershot market expectations of 13.6% growth. Looking at subsectors, sales of jewelry, cars, communication equipment and catering saw the fastest growth. In contrast, construction and decoration sales fell by double digits, a symptom of the weak property sector. It should be noted that year-on-year headline retail sales growth continues to be flattered by a favorable base effect, given that in May last year lockdowns caused a sharp contraction in retail activity.

On a seasonally adjusted monthly basis, retail sales rose at a quicker rate of 0.4% in May (April: +0.2% mom).

China Retail Chart

This chart displays Retail Sales (ann. var. %) for China from 2013 to 2022.

China Retail Data

2018 2019 2020 2021 2022
Retail Sales (ann. var. %) 9.0 8.0 -3.9 12.5 -0.2

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