Free Trial

Rangebound, ANZ Business Survey On Tap


Pierces Support

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

MNI BRIEF: China's Retail Spending To Rebound: NBS Official

MNI (Singapore)

China's retail spending will continue to recover on higher incomes and stable employment, though it was temporarily interrupted by recent sporadic outbreaks of localised Covid-19 cases and floods, said Fu Linghui, spokesman of the National Bureau of Statistics on Wednesday.

Retail sales growth sharply slowed down by six percentage points from July to 2.5% y/y in August, as summer holiday spending was affected by the reduction in traveling and catering, said Fu. Catering revenue fell 4.5% in August, reversing the 14.3% growth in the previous month.

In the next step, China should increase effective supply especially the production of smart home appliances and low-carbon products, said Fu, noting that there is still great potential in the spending of green and intelligent products.

The growth rate of retail sales was the lowest since August 2020. Fu also attributed the deceleration to the higher comparison base same period last year when retail sales had turned positive for the first time since the initial outbreak of the Covid-19 epidemic.


To read the full story

Why Subscribe to

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.