Chinese retail sales jump 3.1% in June (NBS)
Last month, the nation’s retail sales rose 0.53 percent on a monthly basis to 3.87 trillion yuan (about $573 billion), according to the NBS. During the second quarter of 2022, retail sales fell 4.6% year-on-year, resulting in a 0.7% drop in the first half figure compared to the January-June period of the year last.
Meanwhile, the country’s online retail sales grew 3.1% year-on-year in the first half.
Retail sales of consumer goods in China, which are a major indicator of the country’s consumption strength, soared 3.1% year-on-year in June, according to recent data from the National Bureau of Statistics (NBS). from China. Recent growth in consumer goods retail sales in China reversed the declines seen in April and May.
NBS data also revealed that China’s gross domestic product (GDP) grew 2.5% year-on-year in the first half of 2022. China’s GDP grew 0.4% in the second quarter.
Fibre2Fashion News Office (NB)