China’s Retail Sales Grew 3.3% in September
Total retail sales logged CNY3.53 trillion (USD billion) in September, a jump of 3.3 percent from the same period last year after registering a 0.5 percent gain in August, data the National Bureau of Statistics released today show. That is better than the market expected. An Yicai Global survey of 22 chief economists at major Chinese financial institutions found they predicted on average third-quarter retail sales will gain 2.01 percent. Retail sales dropped 7.2 percent in the first three quarters in a 4.2 percentage point improvement from that of the first two as third-quarter retail returned to positive in a 0.9 percent gain from the same period last year. |
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