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China's retail sales of consumer goods down 0.1% YoY in Jan-Nov 2022
16 Dec '22
1 min read
Pic: Shutterstock
China’s total retail sales of consumer goods have decreased by 0.1 per cent year-on-year (YoY) in the period from January to November 2022, according to the data from the National Bureau of Statistics (NBS). The country’s online retail sales in the first 11 months of 2022 went up by 4.2 per cent, as compared to the corresponding period of the previous year.
The country’s online sales of physical goods soared 6.4 per cent YoY during the January-November 2022 period, accounting for 27.1 per cent of the total retail sales of consumer goods, Chinese media reports said quoting the NBS statement.
The retail sales of brick-and-mortar stores also grew during the period.
Thanks to the implementation of pro-consumption measures and optimised COVID-19 response, China's retail sales are expected to steadily recover.
Fibre2Fashion News Desk (DP)
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