China’s May sales accelerate
16/06/2014
Retail sales in China rose by 12.5 per cent year on year to 2.13 trillion yuan ($348.4 billion) in May.
That’s higher than the forecast 12.1 per cent.
And according to the National Bureau of Statistics of China, the nation’s retail sales rose 12.1 per cent during the first five months of the year.
Retail sales in urban areas increased 12.3 per cent in May and 13.9 per cent in rural areas.
Li Maoyu, analyst at Changjiang Securities, said: “China’s economy is stabilising. As the pro-growth policies filter through the economy, more indications of a recovery will be seen.”