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China’s retail sales growth accelerates in June

Updated: Jul 16,2018 11:02 AM     Xinhua

BEIJING — China’s retail sales of consumer goods grew 9 percent year on year in June, official data showed on July 16.

The growth accelerated from the 8.5-percent rise seen in May, according to the National Bureau of Statistics (NBS).

In the first half of the year, retail sales expanded 9.4 percent year on year to reach 18 trillion yuan (about $2.7 trillion), compared with a 9.8-percent growth in the first quarter.

Retail sales in rural areas increased 10.5 percent year on year in the first half, continuing to outpace the growth in urban regions, where sales rose 9.2 percent, according to the NBS.

In breakdown, the catering sector reported a 9.9-percent year-on-year rise in revenue, while sales of other consumer products increased by 9.3 percent.

Online spending remained robust, with sales surging 30.1 percent to reach 4.1 trillion yuan in the first half.

During the period, final consumption expenditure contributed to 78.5 percent of China’s economic growth, up from 77.8 percent in the first quarter.

The NBS data also showed China’s GDP expanded 6.8 percent year on year in the first half, with a 6.7-percent growth in the second quarter.