RETAIL sales in the world's largest consumer market hit a four-month high in September, largely on the back of a government trade-in programme that incentivises purchases of cars and appliances, according to analysts, reports Hong Kong's South China Morning Post.
China's retail sales last month grew 3.2 per cent after a 2.1 per cent year-on-year rise in August, China's National Bureau of Statistics (NBS) said. Month to month, retailing was also up 0.4 per cent in September over August.
The Chinese economy has been battered by a property crisis since 2020 and post-pandemic employment setbacks. Consumer confidence weakened slightly in August versus July.
Last month, retail sales of automobiles shifted from negative to positive with a gain of 0.4 per cent, the NBS said. Sales of household appliances and audiovisual equipment rose by 20.5 per cent in September, it added. That figure marked the strongest year-on-year growth of any category last month, ING said in a research note.
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China's retail sales last month grew 3.2 per cent after a 2.1 per cent year-on-year rise in August, China's National Bureau of Statistics (NBS) said. Month to month, retailing was also up 0.4 per cent in September over August.
The Chinese economy has been battered by a property crisis since 2020 and post-pandemic employment setbacks. Consumer confidence weakened slightly in August versus July.
Last month, retail sales of automobiles shifted from negative to positive with a gain of 0.4 per cent, the NBS said. Sales of household appliances and audiovisual equipment rose by 20.5 per cent in September, it added. That figure marked the strongest year-on-year growth of any category last month, ING said in a research note.
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