China's retail sales rise by 3.5% in 1st 2 months of 2023 - Breaking The News
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China's retail sales rise by 3.5% in 1st 2 months of 2023

EPA-EFE/WU HAO

Retail sales of consumer goods for January and February in China landed in line with analysts' projections, increasing by 3.5% compared to the same time last year, the country's National Bureau of Statistics (NBS) reported on Wednesday.

The measure of total receipts of the retailed consumer goods from January through February reached 7.7 trillion yuan (~$1.2 billion).

Analyzed by different areas, the data for the two-month period showed that the retail sales in urban areas reached 6.7 trillion yuan, up by 3.4% on a yearly basis, while in rural areas the figure added 4.5 year-on-year to reach 1.1 trillion yuan. The total retail sales of consumer goods fell by 0.02% in February compared with that of the previous month.

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