China: Retail sales in December confirm recovery in second half of 2012
January 18, 2013
In December, nominal retail sales increased 15.2% over the same month the previous year, which represents the strongest expansion recorded since March. The figure overshot market expectations that had retail sales expanding at the previous month's 14.9% pace. The improvement seen in December was mainly due to stronger growth in automobiles sales as well as in petroleum and related products.
Compared to the previous month, retail sales expanded a seasonally adjusted 1.53%, following the 1.52% increase tallied in November. Despite the healthy pace witnessed in recent months, retail sales expanded only 14.3% in 2012, which is down from the 17.1% rise seen in 2011. The expansion was in line with last month's FocusEconomics Consensus Forecast.