China's retail trade grew by 0.5 percent from a year earlier in August 2020, the first month of increase since December 2019 and compared with market consensus of a flat reading, as consumption started to recover following the gradual loosening of COVID-19 restrictions. Sales rose for most categories: garments (4.2 percent vs -2.5 percent in July); cosmetics (19 percent vs 9.2 percent); jewelry (15.3 percent vs 7.5 percent); home appliances (4.3 percent vs -2.2 percent); automobiles (11.8 percent vs 12.3 percent); personal care (11.4 percent vs 6.9 percent); office supplies (9.4 percent vs 0.5 percent); and telecoms (25.1 percent vs 11.3 percent). Meantime, sales continued to fall for furniture (-4.2 percent vs -3.9 percent), oil, oil products (-14.5 percent vs -13.9 percent), and building materials (-2.9 percent vs -2.5 percent). From the January to August period, retail trade tumbled 8.6%.
Retail Sales YoY in China averaged 13.16 percent from 1993 until 2020, reaching an all time high of 37.40 percent in December of 1993 and a record low of -20.50 percent in January of 2020. This page provides - China Retail Sales YoY - actual values, historical data, forecast, chart, statistics, economic calendar and news. China Retail Sales YoY - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: National Bureau of Statistics of China
Retail Sales YoY in China is expected to be 0.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales YoY in China to stand at 3.30 in 12 months time. In the long-term, the China Retail Sales YoY is projected to trend around 4.50 percent in 2021 and 6.00 percent in 2022, according to our econometric models.