China’s Retail Sales Grew 3.3% in September
Tang Shihua
DATE:  Oct 19 2020
/ SOURCE:  Yicai
China’s Retail Sales Grew 3.3% in September China’s Retail Sales Grew 3.3% in September

(Yicai Global) Oct. 19 -- China's retail sales expand their growth last month after the litmus for consumer spending turn positive in August for the first time since the start of the pandemic.

Total retail sales logged CNY3.53 trillion (USD billion) in September, a jump of 3.3 percent from the same period last year after registering a 0.5 percent gain in August, data the National Bureau of Statistics released today show.

That is better than the market expected. An Yicai Global survey of 22 chief economists at major Chinese financial institutions found they predicted on average third-quarter retail sales will gain 2.01 percent.

Retail sales dropped 7.2 percent in the first three quarters in a 4.2 percentage point improvement from that of the first two as third-quarter retail returned to positive in a 0.9 percent gain from the same period last year.

Editor: Ben Armour

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Keywords:   Retail Sale,Economic Data,National Bureau of Statistics