China's April Retail Sales Up 18.4%... Recovery Continues for Four Months
China's retail sales in April continued their recovery for the fourth consecutive month, supported by the transition to With-Corona policies.
On the 16th, the National Bureau of Statistics of China announced that retail sales in April increased by 18.4% year-on-year. Retail sales, which showed a negative trend at the end of last year, rebounded to 3.5% in January-February this year, followed by 10.6% in March, and have continued their recovery through April.
Last month's figure significantly exceeded the previous month's (10.6%) but fell short of the forecast (21.0%).
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China's retail sales reflect changes in various types of consumer spending, including department stores and convenience stores.
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