|Y/Y % Change||10.9%||10.9%||10.8%|
|M/M % Change||0.89%||0.86%|
Retail Sales in September met expectations and increased 10.9 percent on the year after rising 10.8 percent in August. Sales were up 0.87 percent on the month. For the year to date, retail sales were up 10.5 percent from a year ago. Urban retail sales were up 10.7 percent after increasing 10.6 percent in August while rural sales were up 12.1 percent after 11.9 percent. Auto sales added 2.7 percent after jumping 5.2 percent the month before. Furniture was up 19.1 percent after increasing only 16.1 percent in August. Similarly, building & decoration materials climbed 23.2 percent after 20.7 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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