China's Total Retail Sales of Consumer Goods in July Rose 0.6% Year-on-Year, Down from 1% Previously
China's total retail sales of consumer goods rose by 0.6% year-on-year in July, down from the previous value of 1%. Cumulative growth from January to July stood at 1.2%. Notably, retail sales excluding automobiles increased by 2.5% in July and by 2.7% from January to July. Both urban and rural retail sales achieved positive growth, although the pace slowed compared to earlier periods. Catering revenue rose by 1.4% in July, while retail sales of goods increased by 0.5%. Online retail sales grew by 4.8% from January to July, showing relative resilience. The overall momentum of consumption recovery has weakened
From January to July, the total retail sales of consumer goods amounted to 28,774.4 billion yuan, a year-on-year increase of 1.2%. Among this, retail sales of consumer goods excluding automobiles reached 26,514.2 billion yuan, up by 2.7%. In July, the total retail sales of consumer goods totaled 39,022 billion yuan, a year-on-year increase of 0.6%. Among this, retail sales of consumer goods excluding automobiles amounted to 35,892 billion yuan, up by 2.5%.
By location of operating units, from January to July, urban consumer goods retail sales reached 24,928.5 billion yuan, a year-on-year increase of 1.1%; rural consumer goods retail sales amounted to 3,845.9 billion yuan, up by 2.4%. In July, urban consumer goods retail sales totaled 33,780 billion yuan, a year-on-year increase of 0.5%; rural consumer goods retail sales reached 5,242 billion yuan, up by 1.6%.
By consumption type, from January to July, retail sales of goods amounted to 25,492.2 billion yuan, a year-on-year increase of 1.1%; catering revenue reached 3,282.2 billion yuan, up by 2.6%. In July, retail sales of goods totaled 34,455 billion yuan, a year-on-year increase of 0.5%; catering revenue amounted to 4,567 billion yuan, up by 1.4%.
By retail format, from January to July, among retail enterprises above the designated size, retail sales at convenience stores and supermarkets increased by 6.1% and 3.8% year-on-year, respectively; retail sales at specialty stores, department stores, and brand exclusive stores decreased by 1.8%, 2.4%, and 9.3%, respectively.
From January to July, the national online retail sales of goods and services totaled 11,721.4 billion yuan, a year-on-year increase of 4.8%. Among this, online retail sales of goods reached 7,396.5 billion yuan, up by 4.6%. Within online retail sales of goods, sales of food, clothing, and daily necessities increased by 16.9%, 5.8%, and 1.1%, respectively. Online retail sales of services amounted to 4,324.9 billion yuan, up by 5.2%.
