14.11.202502:05:02UTC+00China Retail Sales Growth Tops Estimates

In October 2025, China's retail sales experienced a 2.9% growth compared to the same month in the previous year, slightly down from the 3.0% increase observed in September. This represents the most modest growth rate since August 2024. Nevertheless, the figures surpassed market forecasts of a 2.7% rise, buoyed by ongoing consumer subsidy programs. Sales saw a slowdown in specific sectors such as sports and entertainment goods, which grew by 10.1% compared to 11.9% in September. Conversely, there were significant downturns in the sales of household appliances and audio-visual equipment, which plummeted by 14.6% following a 3.3% increase the previous month. Similarly, declines were noted in the automotive sector (-6.6% versus a prior increase of 1.6%), building materials (-8.3% compared to -0.1%), and petroleum products (-5.9% as opposed to a previous -7.1%). On the other hand, there was robust growth in segments such as grain, oil, and food, which increased by 9.1%, surpassing the previous month's 6.3%. The sales of gold, silver, and jewelry surged dramatically by 37.6%, up from 9.7%, while clothing, shoes, hats, and textiles rose by 6.3%, up from 4.7%. Cosmetics reported a growth of 9.6% (from 8.6%), office supplies saw a significant boost of 13.5% (from 6.2%), and communication equipment sales soared by 23.2% (from 16.2%). For the first ten months of 2025, retail trade grew by 4.3% compared to the same period in the previous year.