5/16, 4:02 AM (Source: TeleTrader)
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China's retail sales drop 11.1% in April

China's retail sales went below analyst expectations to plunge by 11.1% in April, landing at 2.9 trillion yuan, the Chinese National Bureau of Statistics showed in a Monday report.

Furthermore, the April retail sales of consumer goods in urban areas amounted to 2.6 trillion yuan, down 11.3% year-over-year, while the monthly retail sales in rural areas were 385 billion yuan, marking a 9.8% fall.

In terms of consumption category, the April retail sales of food and beverages dropped 22.7% on a yearly basis, while commodity retail suffered a 9.7% decline.

Baha Breaking News (BBN) / SP