China's retail trade declined by 1.8 percent year-on-year in June 2020, missing market expectations of a 0.3 percent rebound and following a 2.8 percent fall a month earlier. This was the sixth straight month of contraction in retail trade, with people avoiding crowded places, including shops, restaurants, and cinemas amid the COVID-19 crisis. Sales were down for garments (-0.1 percent vs -0.6 percent in May), jewelry (-6.8 percent vs -3.9 percent), furniture (-1.4 percent vs 3 percent), oil, oil products (-13 percent vs -14 percent), and automobiles (-8.2 percent vs 3.5 percent). Meantime, there were increases in sales of cosmetics (20.5 percent vs 12.9 percent), personal care (16.9 percent vs 17.3 percent), office supplies (8.1 percent vs 1.9 percent), home appliances (9.8 percent vs 4.3 percent), telecoms (18.8 percent vs 11.4 percent), and building materials (2.2 percent vs 1.9 percent). From the January to June period, retail trade slumped 11.4 percent.
Retail Sales YoY in China averaged 13.24 percent from 1993 until 2020, reaching an all time high of 37.40 percent in December of 1993 and a record low of -20.50 percent in January of 2020. This page provides - China Retail Sales YoY - actual values, historical data, forecast, chart, statistics, economic calendar and news. China Retail Sales YoY - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: National Bureau of Statistics of China
Retail Sales YoY in China is expected to be 4.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales YoY in China to stand at 6.30 in 12 months time. In the long-term, the China Retail Sales YoY is projected to trend around 6.50 percent in 2021 and 8.00 percent in 2022, according to our econometric models.