China's retail trade growth stood at 8 percent year-on-year in December 2019, unchanged from the previous month's five-month high and above market expectations of a 7.8 percent increase. Sales rose for most categories: garments (1.9 percent vs 4.6 percent in November); cosmetics (11.9 percent vs 16.8 percent), jewelry (3.7 percent vs -1.1 percent), personal care (13.9 percent vs 17.5 percent), home appliances (2.7 percent vs 9.7 percent), furniture (1.8 percent vs 6.5 percent), telecoms (8.8 percent vs 12.1 percent), oil, oil products (4 percent vs 0.5 percent), automobiles (1.8 percent vs -1.8 percent) and building materials (0.6 percent vs -0.3 percent). In contrast, sales of office supplies fell 11.5 percent, compared to a 4.6 percent advance in November. For full 2019, retail sales also increased 8.0 percent over a year earlier. Retail Sales YoY in China averaged 13.70 percent from 1993 until 2019, reaching an all time high of 37.40 percent in December of 1993 and a record low of 4.30 percent in May of 2003. source: National Bureau of Statistics of China

Retail Sales YoY in China is expected to be 8.00 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 7.50 in 12 months time. In the long-term, the China Retail Sales YoY is projected to trend around 8.00 percent in 2020, according to our econometric models.


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China Retail Sales YoY

Actual Previous Highest Lowest Dates Unit Frequency
8.00 8.00 37.40 4.30 1993 - 2019 percent Monthly



Calendar GMT Actual Previous Consensus TEForecast
2019-10-18 02:00 AM Sep 7.8% 7.5% 7.8% 7.7%
2019-11-14 02:00 AM Oct 7.2% 7.8% 7.9% 7.8%
2019-12-16 02:00 AM Nov 8% 7.2% 7.6% 7.5%
2020-01-17 02:00 AM Dec 8% 8% 7.8% 7.5%
2020-03-16 02:00 AM Jan-Feb 8% 7.6%
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
2019-12-16
China Retail Sales Rise the Most in 5 Months
China's retail trade rose by 8 percent year-on-year in November 2019, following a 7.2 percent gain in the previous month and above market estimates of a 7.6 percent increase. This marked the biggest rise in retail trade since June, as sales advanced further for cosmetics (16.8 percent vs 6.2 percent in October); home appliances (9.7 percent vs 0.7 percent); furniture (6.5 percent vs 1.8 percent); and personal care (17.5 percent vs 12 percent). In addition, sales rebounded for garments (4.6 percent vs -0.8 percent); oil & oil products (0.5 percent vs -4.5 percent); and office supplies (4.6 percent vs -3.4 percent). Also, sales fell less for jewellery (-1.1 percent vs -4.5 percent); automobiles (-1.8 percent vs -3.3 percent); and building materials (-0.3 percent vs 2.6 percent). Meanwhile, sales of telecoms slowed (12.1 percent vs 22.9 percent). Considering the January to November period, retail sales rose 8 percent from the corresponding period a year earlier.

2019-11-14
China Retail Sales Growth Slows to 6-Month Low
China's retail trade rose by 7.2 percent year-on-year in October 2019, following a 7.8 percent gain in the previous month and missing market estimates of a 7.9 percent advance. This marked the slowest rise in retail trade since April, as sales growth eased for cosmetics (6.2% vs 13.4% in September), home appliances (0.7% vs 5.4%), furniture (1.8% vs 6.3%), and building materials (2.6% vs 4.2%). In addition, sales fell for garments (-0.8% vs 3.6%), jewelry (-4.6% vs -6.6%), oil & oil products (-4.5% vs -0.4%), office supplies (-3.4% vs -0.2%), and automobiles (-3.3% vs -2.2%). In contrast, sales growth was unchanged for personal care (at 12%), while sales of telecoms rose much faster (22.9% vs 8.4%). Considering the January to October period, retail sales rose 8.1 percent from the corresponding period a year earlier.

2019-10-18
China Retail Sales Rise the Most in 3 Months
China's retail trade rose by 7.8 percent year-on-year in September 2019, following a 7.5 percent gain in the previous month and matching market estimates. Sales went up further for cosmetics (13.4% vs 12.8% in August), home appliances (5.4% vs 4.2%), furniture (6.3% vs 5.7%), and telecoms (8.4% vs 3.5%). In addition, sales fell less for jewellery (-6.6% vs -7%), oil & oil products (-0.4% vs -1.2%), and automobiles (-2.2% vs -8.1%). Meanwhile, sales growth slowed for garments (3.6% vs 5.2%), personal care (12% vs 13%) and building materials (4.2% vs 5.9%). Also, sales of office supplies dropped (-0.2% vs 19.8%). Considering the January to September period, retail sales rose 8.2 percent from the corresponding period a year earlier.

2019-09-16
China Retail Sales Rise the Least in 4 Months
China's retail trade rose by 7.5 percent year-on-year in August 2019, the least since April, following a 7.6 percent growth in the previous month, and below market estimates of 7.9 percent. Sales fell further for automobiles (-8.1% vs -2.6% in July); jewellery (-7% vs -1.6%); and oil & oil products (-1.2% vs -1.1%). Also, sales of furniture advanced at a softer rate (5.7% vs 6.3%). On the other hand, sales went up at a faster pace for garments (5.2% vs 2.9%); cosmetics (12.8% vs 9.4%); home appliances (4.2% vs 3%); office supplies (19.8% vs 14.5%); telecoms (3.5% vs 1%); and building materials (5.9% vs 0.4%). Additionally, sales of personal care rose 13 percent, the same as in July. Considering the January to August period, retail sales advanced 8.2 percent from the corresponding period a year earlier.

2019-08-14
China Retail Sales Rise Less than Expected
China's retail trade rose 7.6 percent year-on-year in July 2019, easing from a 9.8 percent growth in the previous month and missing market expectations of 8.6 percent. Sales growth slowed for garments (2.9 percent vs 5.2 percent in June), cosmetics (9.4 percent vs 22.5 percent), home appliances (3 percent vs 7.7 percent), furniture (6.3 percent vs 8.3 percent), telecoms (1 percent vs 5.9 percent), and building materials (0.4 percent vs 1.1 percent). In addition, sales fell for automobiles (-2.6 percent vs 17.2 percent), jewelry (-1.6 percent vs 7.8 percent), and oil, oil products (-1.1 percent vs 3.5 percent). Meanwhile, sales grew faster for both personal care (13 percent vs 12.3 percent) and office supplies (14.5 percent vs 6.5 percent). Considering the January to July period, retail sales advanced 8.3 percent from the corresponding period a year earlier.

2019-07-15
China Retail Sales Rise the Most in 15 Months
China's retail trade jumped 9.8 percent year-on-year in June 2019, after an increase of 8.6 percent in May and well above market expectations of 8.5 percent. That was the steepest advance in retail trade since March 2018, boosted by sales of automobiles (17.2 percent vs 2.1 percent); garments (5.2 percent vs 4.1 percent); cosmetics (22.5 percent vs 16.7 percent); jewelry (7.8 percent vs 4.7 percent); personal care (12.3 percent vs 11.4 percent); home appliances (7.7 percent vs 5.8 percent); office supplies (6.5 percent vs 3.1 percent); furniture (8.3 percent vs 6.1 percent); oil, oil products (3.5 percent vs 3.1 percent); and building materials (1.1 percent vs -1.1 percent). Meanwhile, sales of telecoms rose at a softer 5.9 percent, compared to 6.7 percent in May. Considering the January to June period, retail sales advanced 8.4 percent from the corresponding period a year earlier.


China Retail Sales YoY
In China, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago.

China Consumer Last Previous Highest Lowest Unit
Consumer Confidence 124.60 124.30 126.00 97.00 points [+]
Retail Sales MoM 0.53 0.80 1.57 0.14 percent [+]
Retail Sales YoY 8.00 8.00 37.40 4.30 percent [+]
Consumer Spending 348209.60 317963.50 348209.60 453.00 CNY HML [+]
Disposable Personal Income 42359.00 39250.84 42359.00 343.40 CNY [+]
Personal Savings 36.10 37.10 39.00 27.20 percent [+]
Bank Lending Rate 3.25 3.25 3.30 3.00 percent [+]
Consumer Credit 432954.13 427462.03 432954.13 59105.90 CNY HML [+]
Gasoline Prices 0.73 0.70 1.37 0.27 USD/Liter [+]
Households Debt To GDP 54.60 53.60 54.60 10.80 percent of GDP [+]
Households Debt To Income 99.90 93.40 99.90 93.40 Percent [+]
Consumer Confidence Current Conditions 108.50 107.90 123.50 90.00 [+]
Consumer Confidence Economic Expectations 116.40 114.70 128.40 96.40 [+]