Retail sales in China in August rose by 10.1%

© AFP 2017 / STRКитайский yuan. Archival photoRetail sales in China in August rose by 10.1%© AFP 2017 / STR

Retail sales in China in August rose by 10.1% compared to the same period in 2016, according to the national Bureau of statistics.

The figure was lower than in July, when retail sales growth was 10.4%, also worse than analysts ‘ forecasts, which expected growth to 10.5%. The increase in sales from January to August amounted to 10.4%.

Total sales for August amounted to 3.03 trillion yuan (464,1 billion). The amount of sales in the first eight months of 2017 made up of 23.23 trillion yuan (3,55 trillion dollars).

While sales in cities for the first eight months increased by 10.1% to 19.9 trillion yuan, while in rural areas — by 12.1%, to 3.28 trillion yuan.

Online sales in the first eight months of 2017 increased by 34.3% compared to the same period last year, reaching 4.2 trillion yuan.

Retail sales in China at the end of 2016 increased by 10.4% to 33,23 trillion yuan (4,84 trillion dollars). The volume of retail online sales grew by 26.2%, to 5.15 trillion yuan (750 billion dollars).

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