Retail sales in China increased 5.9% on an annual level in March, the latest report by the National Bureau of Statistics published on Wednesday showed. The figure beat analysts' expectations, indicating stronger-than-expected performance in the country's retail sector.
The increase was 1.9 percentage points higher than the figure recorded during the first two months of the year, while it represented a 0.58% increase on a monthly basis.
Consumer goods sales in urban areas jumped 4.5% year-over-year, whereas the increase in rural areas amounted to 4.9%. Meanwhile, online retail sales surged 7.9% compared to the year prior.
