China: Growth in retail sales holds up well in December
January 19, 2016
In December, nominal retail sales grew 11.1% year-on-year, which was only a notch down from November’s 11.2% increase. The reading, which undershot the 11.3% increase market had expected, still reflected stronger sales of automobiles, clothes and textiles, and household appliances, supported by sales promotions in mid-December.
Compared to November, retail sales expanded a seasonally-adjusted 0.82% in December (November: +0.85% month-on-month). Despite the stronger readings observed in the last few months, annual average growth in retail sales stabilized in December at November’s 11.7%. The print represented the lowest reading since April 2004.