China reports significant retail sales growth, driven by home appliance sales and a trade-in program.

China reported a 39.3% jump in home appliance retail sales in December 2024, up from November by 17.1 percentage points, fueled by a trade-in program. Consumer goods sales rose 3.7% year-on-year, contributing to a 3.5% yearly increase, which accounted for 44.5% of China's economic growth. Service retail sales also saw a 6.2% year-on-year increase, outpacing consumer goods by 3 percentage points.

2 months ago
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