CN: Retail Sales

Fri Dec 11 23:30:00 CST 2015

Consensus Actual Previous
Y/Y % Change 11.1% 11.2% 11.0%
M/M % Change 0.86% 0.83%

November retail sales improved to an increase of 11.2 percent from 11.0 percent on the year. Sales increased 0.86 percent on the month, up from 0.81 percent last time. For the year to date, sales were up 10.6 percent for a second month. Urban sales were up 11.0 percent on the year while rural sales increased 12.2 percent for a second month.

Auto sales were up 9.0 percent after increasing 7.1 percent in October. Communication equipment was up 12.2 percent after soaring 36.6 percent in October. Household nondurables were up 14.1 percent, improving from 10.1 percent. Furniture improved to an increase of 14.5 percent after 12.4 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.