China’s retail sales grew 10.7 percent year on year to CNY4.8 trillion (USD779 billion) in the first two months of 2015, the National Bureau of Statistics said on Wednesday. The rate slowed from the 12-percent annual gain seen in 2014.
Minsheng Securities attributed the slowdown to China’s anti-corruption drive, sluggish property sales, as well as the economic downturn’s effect on public spending.
In breakdown, the catering sector reported an 11.2-percent year-on-year rise in revenues, while sales of other consumer products increased 10.7 percent.
(Source: Shanghai Daily)