China retail sales climb
Retail sales in China climbed 12 per cent year on year in the first 10 months of 2014.
That’s according to official Chinese government data, which includes a number of sales categories not generally included in retail statistics reported in other countries, such as new motor vehicles.
China’s National Bureau of Statistics said sales to October 31 totalled 21.31 trillion yuan, or $US3.47 trillion.
The growth rate has slowed in each of the last five months, but remain strong by global standards.
However, online retail sales are accelerating rapidly, with the Bureau estimating a 55.6 per cent year on year growth to 330.7 billion yuan, or US$5.398 billion.