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China’s Total Retail Sales of Consumer Goods in the Third Quarter of 2020 Shifted from Negative to Positive
From January to September, the total retail sales of consumer goods reached 27,332.4 billion yuan, down 7.2 percent year on year, and the pace of decline narrowed 4.2 percentage points than that of the first half. The total retail sales of consumer goods in the third quarter increased by 0.9% year-on year, with a shift in quarterly growth from negative to positive. After deducting the price factor, the total retail sales of consumer goods in the third quarter decrease 0.5 per cent, with the decrease narrowed by 4.7 percentage points over the second quarter.
In September, the total retail sales of consumer goods totaled 3,529.5 billion yuan, up 3.3 percent year on year.
