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6/14, 9:00 AM (Source: TeleTrader)
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Retail sales in China rise 8.6% in May

Retail sales in China beat estimates to rise 8.6% in May compared to the same month a year ago, the National Bureau of Statistics said in its latest release on Friday. On a monthly basis, retail sales jumped by 1.4%.

Retail sales in urban areas rose by 8% year-on-year and by 8.9% in rural areas. Catering revenue grew the most in May on an annual basis at 9.4%, followed by retail sales of goods at 8.5%.

In the first five months of the year, total retail sales of consumer goods were up 8.1% compared to the same period last year. Total online retail sales grew by 17.8% while online retail sales of physical goods added 21.7% in April compared to the same month in 2018.

Breaking the News / DZ