China Retail Sales recovery

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China Retail Sales recovery

                          China’s retail trade rose by 3.3% year-on-year in September 2020, after a 0.5 percent gain in August and well above market expectations of a 1.8%.

                     This was the second straight month of rise in retail trade and the biggest gain since December last year, as consumption continues to recover following the gradual loosening of COVID-19 restrictions. Sales rose further for most categories: automobiles (11.2% vs 11.8%); clothing and footwear (8.3% vs 4.2% in August); food and drinks (7.8% vs 4.2%); personal care (10.7% vs 11.4%); medicines (9.6% vs 6.2%); alcohol and tobacco (17.6% vs 3.1%); office supplies (12.2% vs 9.4%); cosmetics (13.7% vs 19%); and jewellery (13.1% vs 15.3%). Meantime, sales fell for home appliances (-0.5% vs 4.3%); telecoms (-4.6% vs 25.1%); furniture (-0.6% vs -4.2%); and oil, oil products (-11.8% vs -14.5%). From the January to September period, retail trade tumbled 7.2%.


 

 

source: National Bureau of Statistics of China