(Yicai Global) April 16 -- China’s retail sales jumped more than expected last month due to the low base a year earlier and as consumer demand recovers after the worst times of the pandemic.

Retail sales of consumer goods rose 34.2 percent from a year ago to CNY3.55 trillion (USD543.7 billion) in March, the National Bureau of Statistics announced today.

Twenty chief economists at major Chinese financial institutions polled by Yicai Global had predicted an increase of 27.6 percent.

In the same month of 2020, retail sales had declined 15.8 percent. Average March growth for the past two years was at 6.3 percent, the NBS said.

In the first quarter, sales gained 33.9 percent, the NBS said. Over the past two years, sales had been growing by an average of 4.2 percent in the first quarter.

Editor: Emmi Laine, Xiao Yi