Mainland China retail sales growth was stable during the first two months of this year, according to data released by the National Bureau of Statistics (NBS).
The value of sales grew at 8.2 per cent year on year, about the same level as the figure for February. After netting out the effect of inflation, retail sales by volume increased by 7.1 per cent, slightly higher than December’s 6.6 per cent.
By combining figures for January and February, the NBS negates any monthly variation caused by the changing timing of Lunar New Year during the January-February period.
Retail sales in rural areas rose by 9.1 per cent, while urban areas reported 8 per cent growth.
Online sales rose by 13.6 per cent during the two-month period.