4/17, 4:01 AM (Source: TeleTrader)
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China's retail sales up 8.7% in March

Retail sales in China rose 8.7% in March on a yearly basis, the country's National Bureau of Statistics said on Wednesday. The figure beat analysts' expectations of 8.4% and was 0.5% higher than for the first two months of the year.

Urban consumer goods retail sales were up 8.2% year-on-year compared to 9.2% for rural areas. The income of the catering industry was the fastest grower, rising by 9.6%, while retail sales of goods increased by 8.2%. Retail sales for the first quarter of 2019 overall grew by 8.3%, 0.1% higher than in January and February.

In addition, online retail sales in the first quarter rose by 15.3% on an annual basis. In particular, online retail sales of physical goods jumped by 21% to account for 18.2% of the total retail sales of consumer goods.

Breaking the News / DZ