Retail News
- China's retail sales rise 18.1% in October
Date: 15-Nov-2007 Sources: (Xinhua Online)
BEIJING, Nov. 14 (Xinhua) -- China's retail sales expanded by 18.1 percent year-on-year to 826.3 billion yuan (111.2 billion U.S. dollars) in October, the National Bureau of Statistics (NBS) said on Wednesday.
The growth rate was up from the 17.0 percent in September.
The growth in retail sales quickened with rising incomes and also as the consumer inflation rebounded to 6.5 percent, matching the 11-year monthly record in August, said analysts.
The retail sales in the first ten months rose 16.1 percent to 7.209 trillion yuan (970 billion U.S. dollars), according to the NBS.
Sales in the lodging and catering sector surged 21.4 percent to117.1 billion yuan last month.
Sales for meat, poultry and eggs rose 45.4 percent. The figures for grain and food oil jumped 45.1 percent. Price rises in pork, grain and food oil are the major contributor to the nation's accelerating inflation for October.
China also saw robust sales growth for auto and jewellery as their annual growth rate in October stood at 36.1 percent and 37.5percent respectively.
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