|Y/Y % Change||10.6%||10.8%||10.5%|
|M/M % Change||0.86%||0.79%|
Retail sales improved to an increase of 10.8 percent in August, up from 10.5 percent in July. On the month, sales increased 0.86 percent. Year to date, sales were up 10.5 percent after increasing 10.4 percent in July. Urban sales were up 10.6 percent after rising 10.3 percent. Rural sales were unchanged with an increase of 11.9 percent. Grain and food sales eased to an increase of 14.9 percent after jumping 16.7 percent the month before. Auto sales improved to an increase of 5.2 percent after climbing only 2.5 percent in July. Oil & oil products continued to decline, this time down 8.8 percent.
Retail sales are sales of a physical commodity or the income of catering services sold or provided by enterprises to individuals and social organizations for non-production and non-operation purposes.
Retail sales tend to have a muted impact because the Chinese economy is not heavily reliant on consumer spending. However, the government is trying to stimulate consumer spending to give the economy more balance. To this end, the government put into place a basket of stimulus measures, including government subsidies and tax breaks for home appliances and cars, to expand consumption to sustain the economic growth, which was slowed by a slump in exports amid the global economic downturn.
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