Consumer spending growth in October hits a 7-month high
Release Time:
2012-12-12 18:03
Source:
China General Chamber of Commerce
According to the National Bureau of Statistics, in October, China's total retail sales of consumer goods reached 1,893.4 billion yuan, a year-on-year increase of 14.5%, marking a new high in nearly 7 months.
From January to October, the cumulative total retail sales of consumer goods reached 16,835.6 billion yuan, a year-on-year increase of 14.1%; after deducting price factors, the actual growth was 11.8%, accelerating by 0.6 percentage points compared to the same period last year.
Urban consumption slightly rebounded. In October, urban consumption grew by 14.5%, with the growth rate accelerating by 0.3 percentage points compared to the previous month, and accelerating by 1.4 percentage points compared to the lowest growth months of July and August this year.
Sales of large and medium-sized circulation enterprises slightly rebounded. In October, sales of 3,000 key retail enterprises monitored by the Ministry of Commerce increased by 8.5% year-on-year, with the growth rate accelerating by 0.5 percentage points compared to the previous month.
Sales of upgraded and replacement goods slightly rebounded. Sales of automobiles, furniture, and building materials increased by 9.9%, 7.6%, and 10.5% year-on-year respectively, with growth rates accelerating by 3.8, 3.2, and 4.0 percentage points compared to the previous month.
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