China Retail

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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.


Author: Ricard Torné, Head of Economic Research

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China Retail December 2012

Note: Month-on-month changes of seasonally adjusted nominal retail sales index and year-on-year variation in %. Owing to seasonal factors related to the Lunar New Year, annual figures in January and February are reported together.
Source: National Bureau of Statistics of China (NBS).


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