China's Retail Sales Growth Quickens to 1.1% in September

MT Newswires Live10-19 10:35

China's retail sales of consumer goods rose 1.1% year over year to 4.243 trillion yuan in September, according to data from the National Bureau of Statistics on Monday.

The growth rate was faster than the 0.4% expansion recorded in the previous month, marking the sharpest rate in six months. It also beat the consensus forecast of 0.5% growth, according to Investing.com.

Urban retail sales rose 0.8% year over year to 3.608 trillion yuan, while rural retail sales edged up 2.7% to 635.6 billion yuan.

On a month-over-month basis, China's retail sales grew 0.35% in September, reversing the 0.16% monthly drop in August.

In the first nine months of the year, retail sales in China rose 1.1% year over year to 37 trillion yuan, unchanged from the pace of expansion in the previous eight-month period.

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