China's retail sales see 3.1% jump in June: NBS

Last month, the country’s retail sales rose by 0.53 per cent on a month-on-month basis to 3.87 trillion yuan (which is about $573 billion), as per the NBS. During the second quarter of 2022, retail sales fell by 4.6 per cent year-on-year, which led the first-half figure to dip by 0.7 per cent as compared to the January-June period last year.

Meanwhile, the country’s online retail sales saw a growth of 3.1 per cent year-on-year in the first half.

The NBS data also revealed that China’s gross domestic product (GDP) increased by 2.5 per cent year-on-year in the first half of 2022. China’s GDP rose by 0.4 per cent in the second quarter.

ALCHEMPro News Desk (NB)