China: Retail sales growth hits a one-year low in August
Retail sales increased 2.5% compared to the same month of the previous year in August, which was a deterioration from July’s 8.5% increase. The figure marked the worst reading since August 2020.
On a monthly basis, retail sales increased 0.2% in seasonally-adjusted terms in August, rebounding from July’s 0.2% fall. Meanwhile, annual average retail sales growth rose to 14.4% in August (July: +14.2%), signaling an improving trend in the retail trade sector.