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Growth rate of China's domestic apparel retail sales dips
Oct '12
The rate of growth of domestic apparel retail sales in China declined during the first eight months of the current year.
The retail sales of knitwear and other garments and hats by major companies grew by 17.5 percent year-on-year in China during January to August this year, showing a decrease of 6.5 percent compared to the growth recorded during the same period last year.
However, the growth rate saw an increase of 2.9 percent and 0.6 percent over the growth seen in first and second quarters of 2012, respectively.
After deducting price factors, the actual apparel retail sales growth works out to 13.6 percent, which is 8.7 percent less than the growth observed during the corresponding period of last year.
During the first eight months of 2012, the domestic sales of major textile enterprises in China totaled 2.98 trillion yuan, registering a year-on-year growth of 12.4 percent. 
However, this growth was 20.1 percent less compared to the growth achieved during the corresponding period of last year. Compared to the first and second quarters of the current year, the domestic sales of textile enterprises showed a drop of 3.9 percent and 0.9 percent, respectively.

Fibre2fashion News Desk - China

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