Increase in retail sales moderates
By Wang Yanlin |
May 12, 2012, Saturday
|
Print Edition
Print Edition
THE moderation in China's retail sales growth in April dampened expectations that domestic demand in the world's second-largest economy may strengthen.
Retail sales expanded 14.1 percent from a year earlier to 1.56 trillion yuan (US$247 billion) last month, slower than the pace of 15.2 percent in March, the National Bureau of Statistics said yesterday.
In the first four months of this year, retail sales rose 14.7 percent to 6.49 trillion yuan.
"The slowdown in April's retail sales is rather unexpected," said Li Maoyu, an analyst at Changjiang Securities Co.
"The figure indicates China needs more stimulus policies to spur domestic demand," Li said.
The Ministry of Commerce said earlier that it would introduce new policies to stimulate consumption after several measures were phased out at the beginning of this year.
Economists are expecting China to rely more on domestic consumption to drive its economic growth, and to gradually reduce the country's dependence on exports and investments.
"The fundamental measure should be the increase in people's income and improvement in China's social welfare system," said Lu Zhiming, an economist at the Bank of Communications.
Retail sales expanded 14.1 percent from a year earlier to 1.56 trillion yuan (US$247 billion) last month, slower than the pace of 15.2 percent in March, the National Bureau of Statistics said yesterday.
In the first four months of this year, retail sales rose 14.7 percent to 6.49 trillion yuan.
"The slowdown in April's retail sales is rather unexpected," said Li Maoyu, an analyst at Changjiang Securities Co.
"The figure indicates China needs more stimulus policies to spur domestic demand," Li said.
The Ministry of Commerce said earlier that it would introduce new policies to stimulate consumption after several measures were phased out at the beginning of this year.
Economists are expecting China to rely more on domestic consumption to drive its economic growth, and to gradually reduce the country's dependence on exports and investments.
"The fundamental measure should be the increase in people's income and improvement in China's social welfare system," said Lu Zhiming, an economist at the Bank of Communications.
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