Headlines

October Retail Sales Up in China

Growth marks third concurrent month of expansion

Published

3 years ago

November 17, 2020

VMSD Staff

Retail sales in China grew from 3.3 percent in September to 4.3 percent in October, reports Barron’s. The increase marks the third straight month of expansion, according to China’s National Bureau of Statistics (NBS).

“Privately owned enterprises have served as a key stabilizing force in the job market this year, while foreign-invested entities have reduced hiring,” wrote Fitch Ratings. “Internet-based ‘new-economy’ services, such as food delivery and short-video platforms, have created new job opportunities with flexible hours to accommodate more labor.”

Consumer spending in rural areas grew 5.1 percent, while urban consumption was up 4.2 percent. Unemployment in urban areas remains 5.4 percent.

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