Published 18 Apr.2023 11:14(KST)
China's retail sales in March exceeded expectations, rising 10.6% year-on-year.
On the 18th, the National Bureau of Statistics of China announced that China's retail sales in March increased by 10.6% compared to the same period last year. This significantly surpasses the previous month's figure (3.5%) and the forecast (7.4%). It is the first time since June 2021, when the monthly retail sales growth rate was 12.1%, that China's monthly retail sales growth rate has reached double digits.
China's retail sales reflect changes in various types of consumer spending, including department stores and convenience stores.
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