China CommerceMin: China reports stable H1 consumption growth - Xinhua
According to the Chinese Commerce Ministry, the country’s domestic consumer market was generally stable in the first half of 2019, and is expected to post steady growth in H2, Xinhua News agency reports.
Key Highlights:
“Basic living consumption prospered, with retail sales of daily necessities and beverages per unit above quota in H1 increased by 14.1 percent and 9.9 percent, respectively,
Service consumption registered stable development, with the revenue of the country's catering industry rising 9.4 percent year on year. Service consumption accounted for 49.4 percent of consumers final expenditure, up 0.6 percentage points from a year ago, according to the ministry.
In H1 2019, online retail sales reported fast growth, with the online retail sales of physical commodities up 21.6 percent, accounting for 19.6 percent of that of the social consumer goods, the MOC reported.
The country's consumer price saw mild increase, with the consumer price index, a main gauge of inflation, up 2.2 percent year on year in H1.”
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
