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- China's retail sales above expectations. Industrial productions slows down
China's retail sales above expectations. Industrial productions slows down
In September, China's retail sales, year on year, increased by 10.7%, which is higher than the previous value, and analysts' forecast of 10.6%. This was reported today by the National Bureau of Statistics. This indicator measures the total amount of cash proceeds from the sale of consumer goods to end consumers. The index takes into account the total of all consumer goods delivered by various industries for households and social groups through a variety of channels in the retail trade. This is an important indicator that allows to study the changes in the retail market in China and reflects the level of economic well-being.
According to the report, retail sales increased due to growth in sales of cars and building materials, sanitary ware and furniture, amid a slight improvement in the housing market.
Also, was reported that industrial production in September, year on year increased by 6.1%, slightly lower than the previous value of 6.3% and economists' forecast of 6.4%.
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