Chinese retail sales grow 10.1% y-o-y in April

17 May '16
1 min read

China's National Bureau of Statistics (NBS) has said that the country's retail sales of consumer goods grew 10.1 per cent year-on-year in April, compared with the 10.5 per cent growth for March.

In the first four months, retail sales were up 10.3 per cent year on year, according to the NBS data released recently.

Urban consumers contributed the lion's share of the increase though rural consumer spending climbed faster than that by urbanites.

Online sales in the first four months rose 27.5 per cent year on year, accounting for about 11.1 per cent of gross retail sales.

Retail sales have contributed significantly to China's economic growth as the country shifts from an export-driven economy to a consumer society.

Earlier this month, China's General Administration of Customs (GAC) reported that the country's exports in yuan-denominated terms rose 4.1 per cent year on year in April, while imports dipped 5.7 per cent. (SH)

Fibre2Fashion News Desk – India

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