China : Retail sales of consumer goods reflects positive growth

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Retail sales of consumer goods reflects positive growth

23
Apr '08

The first quarter of 2008 saw a 20.6 percent rise in retail sales of consumer goods in China valuing 2555.5 billion yuan compared to the previous year.

On an average, the retail sales of clothes, shoes, cap and other textile products surged by 24.3 percent while that of cosmetics increased by 22.3 percent. Furthermore, sports goods saw a growth of 21 percent whereas furniture and jewelry marked a rise of 33.3 and 47.5 percent respectively. Home décor portrayed an odd one out in the group recording a drop of 3.1 percent.

Even in 2007, statistics for the first 10 months showed a 16.1 percent rise in the overall retail sale which reached 7,209 billion yuan.

Infact, in the month of October alone, total retail sale was around 826 billion yuan, up by 18.1 percent of which purchases of clothing, shoes, caps and textile products increased by 32.6 percent while sports products surged by 35 percent.

Since consumption level in the country has been on a persistent rise for the past couple of years, retail sales of consumer goods is unlikely to show a recession in the ongoing year.

Fibre2fashion News Desk - China

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