China's retail trade declined by 6.7% year-on-year in May 2022, compared with market expectations of a 7.1% fall and after a 11.1% drop in the prior period which was the steepest decrease since March 2020. The latest reading marked the third straight month of falling retail trade, as regular virus testing and other stringent controls continued to hinder consumer activity. Sales dropped at softer paces for jewelry (-15.5% vs -26.7% in April), garments (-16.2% vs -22.8%), cosmetics (-11.0% vs -22.3%), personal care (-6.7% vs -10.2%), office supplies (-3.3% vs -4.8%), telecoms (-7.7% vs -21.8%), furniture (-12.2% vs -14%), automobiles (-16.0% vs -31.6%), and building materials (-7.8% vs -11.7%). At the same time, sales of oil products grew faster (8.3% vs 4.7%). By contrast, sales of home appliances deteriorated further (-10.6% vs -8.1%). Considering the first five months of the year, retail sales were down 1.5%. source: National Bureau of Statistics of China
Retail Sales YoY in China averaged 12.90 percent from 1993 until 2022, 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 July of 2022.
Retail Sales YoY in China is expected to be -5.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the China Retail Sales YoY is projected to trend around 3.00 percent in 2023, according to our econometric models.