Retail Sales Slumps Marginally in August, 2019

China’s retail sales grew 7.5 percent Y-o-Y in August 2019 compared to 7.6 percent Y-o-Y in the previous month. The sales decelerated largely due to sharp contraction in auto sales and oil and oil product sales.

Retail Sales performance in terms of Consumption pattern:

• Automobile sales fell down 8.1 percent in August compared to 2.6 percent fall in previous month.
• Oil and Oil products fell down 1.2 percent in August compared to 1.1 percent fall in the previous month.
• Furniture sales grew at softer rate 5.7 percent in August compared to 6.3 percent in the previous month.
• On the other hand, garments, cosmetics and building materials grew 5.2 percent (vs 2.9 PC in July), 12.8 percent (vs 9.4 PC in July) and 5.9 percent (vs 0.4 PC in July). Moreover, home appliances and office supplies and telecoms grew 4.2 percent (vs 3 PC), 19.4 percent (vs 14.5 PC in July) and 3.5 percent (vs 1 PC in July).