China's retail sales grew 2.7% YoY to 3.78 trillion yuan in July, with online sales up 9.5%.

China's retail sales of consumer goods grew 2.7% YoY to nearly 3.78 trillion yuan ($528.82bn) in July, a 0.7ppt increase from June, and reached 27.37 trillion yuan in the first 7 months, up 3.5%. Urban retail sales rose 2.4%, rural 4.6%, catering revenue grew 3%, and online sales increased 9.5% YoY. China's industrial output and fixed-asset investment also expanded by 5.9% and 3.6% YoY.

August 15, 2024
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