Retail sales in China grew 9.4% in April
Date: 07:32, 17-05-2018.
Beijing. May 17. Silkroadnews - Retail sales of consumer goods in China grew 9.4% year-on-year to 2.85 trillion yuan ($450 billion) in April, Ecns.cn portal reports citing the National Bureau of Statistics.
The growth slightly decreased from 10.1% in March. Sales in rural areas increased 10.6% in April, exceeding 9.2% in urban areas.
The catering sector reported revenue growth of 9.6% year-on-year, while sales of other consumer goods grew 9.4%.
Online spending continued to be stable, with sales up 32.4% to 2.58 trillion yuan in January-April, 0.4 percentage points higher than the same period last year.
Consumption was the key economic driver for China. It contributed to economic growth of 77.8% in Q1, compared to 58.8% in 2017.
