Financial News
Written by: Zhang Weilun and Wei Yingzhi
2020-09-30 16:36
Last update date: 2020-09-30 17:24
The government released August retail sales data. The total retail sales value in August was 25.6 billion yuan, down 13.1% year-on-year, which was lower than expected. The retail sales value decline in July was revised downward to 23.1%.
The government also pointed out that the value of retail sales in the first eight months of this year has fallen 30.2% year-on-year.
The government also pointed out that in August, footwear, related products and other clothing accessories fell 42.9% year-on-year; sales of medicines and cosmetics fell 39.8% year-on-year; sales of jewellery, watches and precious gifts fell 37.8% year-on-year; books, newspapers, and stationery And gift sales fell 36.3% year-on-year, optical shop sales 35.2% year-on-year, clothing fell 29.6%, Chinese medicine fell 24.9%, food, alcoholic beverages and tobacco sales fell 15.7%, department store sales value 9.2 %.
The government also pointed out that the value of supermarket merchandise sales rose 10.8% year-on-year, the value of electrical appliances and other unclassified durable goods rose 10.1%, furniture and fixtures rose 8% year-on-year, other unclassified consumer goods rose 5.9%, automobiles and automobiles The value of retail sales rose 8%.
Government: The consumer sentiment has improved further recently
A government spokesman said that under the third wave of the local epidemic, retail sales in August remained weak.
Although the year-on-year decline has significantly narrowed, it is mainly due to a very low comparison base.
Looking ahead, the spokesperson further pointed out that as economic conditions continue to be under pressure, and the inbound tourism industry is unlikely to recover quickly in the short term, the operating environment of the retail industry will remain difficult.
However, if the recent stabilization of the local epidemic continues, the local consumer sentiment may improve further.
The government will closely monitor relevant developments.
Retail market