China’s retail sales in September
According to a report provided by the National Bureau of Statistics of China, on a yearly basis, China’s retail sales rose 10.3% in September compared to a 10.1% rise in August 2017. It surpassed the market expectation of a 10.2% rise.
Components of retail sales
Retail sales in oil products showed strong improvement in September 2017. They rose 8.5% compared to 4.5% in August 2017. Retail sales in building materials, personal care, and furniture also improved in September, rising 9.5%, 7.8%, and 15.5%, respectively, compared to 8.8%, 7.0%, and 11.3%, respectively, in August 2017.
However, retail sales in jewelry, garments, and home appliances showed weaker improvement in September. Overall, retail sales improved in September compared to August. Improving retail sales is a positive sign both for the economy (MCHI) (FXI) and the market (ASHR) (YINN) and could indicate that the economy is getting stronger.
In the next part of this series, we’ll analyze the performance of China’s inflation in September 2017.