China retail sales dive 20.5% in Jan, Feb
by teletrader 2020-03-16
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source: teletrader

Retail sales of consumer goods for January and February in China dropped 20.5% reaching ¥5,213 billion compared to the same time last year, the country's National Bureau of Statistics (NBS) reported on Monday.

The measure of total receipts of the retailed consumer goods in the first two months of 2020 fell for the first time on record, disappointing the expectations and dipping 15.5% below the estimated figure suggested.

Retail sales in urban areas stood at ¥4,488 billion yuan, down by 20.7% year-on-year, while in rural areas the number decreased 19% to ¥724.9 billion.