Retail sales growth slows down
By Wang Yanlin |
March 10, 2012, Saturday
|
Print Edition
Print Edition
CHINA'S retail sales rose less than expected in the first two months of this year, denting the country's hope of relying more on domestic demand to sustain growth in the world's second-largest economy.
Retail sales, a broad measure of people's consumption, expanded 14.7 percent from a year earlier to 3.36 trillion yuan (US$533 billion) between January and February, the National Bureau of Statistics said yesterday. It weakened notably from the pace of 18.1 percent in December and 17.3 percent in November.
"Even in the months of the Spring Festival holiday, a common peak for consumption, people seemed to be reluctant to spend," said Li Maoyu, an analyst at Changjiang Securities Co.
"It is a bad harbinger for the year ahead when policymakers have pinned much hope on more domestic demand to drive the economy."
However, the disappointing retail sales figures in the first two months may force policymakers to introduce more measures to stimulate demand, Li said.
The Ministry of Commerce has said it will soon roll out new policies to spur consumption as some stimulus measures are being gradually phased out since last year.
In the first two months, sales of communication appliances, mobile phones in particular, led other purchases by jumping 43.1 percent from a year earlier. In comparison, sales of household appliances fell 2.9 percent year on year.
Retail sales, a broad measure of people's consumption, expanded 14.7 percent from a year earlier to 3.36 trillion yuan (US$533 billion) between January and February, the National Bureau of Statistics said yesterday. It weakened notably from the pace of 18.1 percent in December and 17.3 percent in November.
"Even in the months of the Spring Festival holiday, a common peak for consumption, people seemed to be reluctant to spend," said Li Maoyu, an analyst at Changjiang Securities Co.
"It is a bad harbinger for the year ahead when policymakers have pinned much hope on more domestic demand to drive the economy."
However, the disappointing retail sales figures in the first two months may force policymakers to introduce more measures to stimulate demand, Li said.
The Ministry of Commerce has said it will soon roll out new policies to spur consumption as some stimulus measures are being gradually phased out since last year.
In the first two months, sales of communication appliances, mobile phones in particular, led other purchases by jumping 43.1 percent from a year earlier. In comparison, sales of household appliances fell 2.9 percent year on year.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
