据国家统计局公布数据，10月份，社会消费品零售总额45396亿元，同比增长4.8%，增速比上月加快1.6个百分点。其中，除汽车以外的消费品零售额40944亿元，增长4.9%。Source: National Bureau of Statistics, Wall Street News
The retail growth rate of social consumer goods rebounded for the second consecutive month, reaching a new high since January-February. Driven by the "trade-in for new" policy, the retail sales of household appliances and audio-visual equipment, cultural and office supplies, furniture, and autos increased by 39.2%, 18.0%, 7.4%, and 3.7% respectively, accelerating by 18.7, 8.0, 7.0, and 3.3 percentage points compared to last month.
China's retail sales of consumer goods rebounded for the second consecutive month, reaching a new high since January and February. Driven by the policy of trading in old for new products, the retail sales growth rates of household appliances and audio-visual equipment, cultural and office supplies, furniture, and automotive products accelerated.
According to data released by the National Bureau of Statistics, in October, the total retail sales of consumer goods reached 4539.6 billion yuan, a year-on-year increase of 4.8%, with a growth rate 1.6 percentage points higher than the previous month. Among them, the retail sales of consumer goods excluding automobiles amounted to 4094.4 billion yuan, a growth of 4.9%.
From January to October, the total retail sales of consumer goods reached 39896 billion yuan, a year-on-year increase of 3.5%. Among them, the retail sales of consumer goods excluding automobiles amounted to 35903.9 billion yuan, with a growth rate of 3.9%.
Sales of upgraded products performed well, with increased retail sales of household appliances, furniture, and automobiles driven by the 'trading in old for new' trend.
Segmented by location of operating units, in October, urban retail sales of consumer goods amounted to 3925.5 billion yuan, a year-on-year increase of 4.7%; rural retail sales of consumer goods reached 614.1 billion yuan, with a growth of 4.9%. From January to October, urban retail sales of consumer goods totaled 34512.4 billion yuan, a growth of 3.4%; rural retail sales of consumer goods amounted to 5383.6 billion yuan, with an increase of 4.4%.
Segmented by type of consumption, in October, retail sales of commodities reached 4044.4 billion yuan, a year-on-year increase of 5.0%; dining revenue totaled 495.2 billion yuan, with a growth of 3.2%. From January to October, retail sales of commodities amounted to 35459.3 billion yuan, a growth of 3.2%; dining revenue reached 4436.7 billion yuan, showing an increase of 5.9%.
Classified by retail formats, from January to October, among the retail units above the quota, convenience stores, specialty stores, and supermarket retail sales increased by 4.7%, 3.9%, and 2.6% respectively year-on-year; department stores and brand-exclusive stores' retail sales decreased by 3.0% and 1.1% respectively.
From January to October, the national online retail sales were 12363.2 billion yuan, an 8.8% year-on-year increase. Among them, the online retail sales of physical goods were 10333 billion yuan, an 8.3% increase, accounting for 25.9% of the total retail sales of consumer goods; within the online retail sales of physical goods, the sales of food, clothing, and daily necessities increased by 17.7%, 4.7%, and 7.7% respectively.
Sales of upgraded products performed well, with the retail sales of cosmetics and sports and entertainment goods of the retail units above the quota increased by 40.1% and 26.7% respectively. Driven by the policy of upgrading old for new in consumer goods, the retail sales of household appliances, audiovisual equipment, cultural and office supplies, furniture, and autos of the upstream units increased by 39.2%, 18.0%, 7.4%, 3.7% respectively, accelerating by 18.7, 8.0, 7.0, 3.3 percentage points compared to the previous month.
Editor / jayden
