Revenues from Chinese apparel retail sales reach $132.44 bn in Jan-Aug

China’s retail sales of consumer goods went up by 2.5 per cent year on year in August this year, according to data from the National Bureau of Statistics (NBS), which showed the country’s retail sales of consumer goods totaled around 3.44 trillion yuan ($533 billion) in August. Retail sales last month were 3 per cent higher from the level in August 2019.

The two-year average growth was 1.5 per cent.

In the January-August period, retail sales gained by 18.1 per cent year on year and was up 8 per cent from the same period in 2019, according to the NBS.

China’s retail sales of consumer goods went up by 2.5 per cent year on year in August this year, according to data from the National Bureau of Statistics (NBS), which showed the country’s retail sales of consumer goods totaled around 3.44 trillion yuan ($533 billion) in August. Retail sales last month were 3 per cent higher from the level in August 2019.

In the first eight months, the catering industry saw a year-on-year increase of 34.4 per cent in revenue, as the hardest-hit sector continued to recover from COVID-19 disruptions, an official news agency reported.

Online consumption remained a bright spot, with online retail sales rising 19.7 per cent year on year to reach about 8.12 trillion yuan in the Jan.uary-August period.

Fibre2Fashion News Desk (DS)