China retail sales rise 4.1% from January to May

China’s consumer goods retail sales increased 4.1% annually in the first 5 months of 2024. The data was released on Monday (June 17, 2024).

The amount sold reached 19.52 trillion yuan (US$2.74 trillion), according to data from the National Bureau of Statistics.

Online retail sales rose 12.4 percent year on year to nearly 5.77 trillion yuan from January to May. In this sector, sales of physical goods grew 11.5% and accounted for 24.7% of total retail sales of consumer goods.

In May, retail trade in consumer goods expanded 3.7 percent year on year to 3.92 trillion yuan. Retail sales excluding automobiles rose 4.7 percent to more than 3.53 trillion yuan.

Retail in rural areas rose 4.1% year on year to 510 billion yuan in May, while in urban areas it grew 3.7% to 3.41 trillion yuan.

In May, retail sales of goods rose 3.6 percent year on year to more than 3.49 trillion yuan.

With information from Xinhua.