Retail sales for the year to date increased 10.4 percent over the first 11 months of 2015, according to data released Tuesday from China’s National Bureau of Statistics.
The November figures mark the fastest monthly growth in retail sales China has seen since December of last year, when retail sales grew 11 percent year-on-year.
“In November […] the national economy remained within a reasonable range and positive changes accumulated and increased, showing a generally stable, steady, good development trend,” the NBS said as it released a set of economic indicators for the month, which also included a slight contraction in real estate investment.
Online sales continued to account for a growing piece of the retail sales pie, with November sales – which includes the blockbuster Singles’ Day trading period – up 25.7 percent. So far in 2016, online sales have risen 26.2 percent over the same period the previous year.
In November, consumer prices rose 2.3 percent, compared with 2.1 percent in October and a 2 percent rise for the year-to-date. In November, food and tobacco prices rose 3.2 percent, clothing rose 1.4 percent, housing rose 2.0 percent, household goods and services rose 0.3 percent, while transport and communications prices were flat.