China retail sales rise for the first time this year

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By: Inside Retail Asia

Officially released data for retail sales in China show a rise for the first time this year as the economy recovers from the impact of the coronavirus.

Figures for August showed a year-on-year increase of 0.5 percent in retail revenues. Dramatic increases were seen in sales of communication equipment (25.1 percent) and automobiles (11.8 percent).

By contrast, figures for the months previous to August this year showed a drop of 8.6 percent, during which time online sales increased 15.8 percent.

China’s economic recovery has been fueled by pent-up demand, government stimulus and strong exports.

China’s industrial output also accelerated at the fastest rate this year during August, according to data from the National Statistics Bureau.

 

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