China's retail sales drop by 6.7% in May - Breaking The News

China's retail sales drop by 6.7% in May

15 June

1 min read

EPA-EFE/ROMAN PILIPEY

Retail sales of consumer goods for May in China landed above analysts' projections despite dropping by 6.7% compared to the same time last year to reach 3,354.7 billion yuan, the country's National Bureau of Statistics (NBS) reported on Wednesday.

The measure of total receipts of the retailed consumer goods from January through May 2022 decreased by 1.5% on an annual basis to stand at 17,168.9 billion yuan.

Analyzed by different areas, the data for the five-month period showed that the retail sales in urban areas reached 2,920.5 billion yuan, down by 6.7% year-on-year, while in rural areas the number fell by 6.3% to 434.2 billion yuan.

retail sales data

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