|
BIZCHINA> Trade
![]() |
|
Retail sales rise 15.9%
(Xinhua)
Updated: 2007-10-27 10:13 China's retail sales rose 15.9 percent year-on-year to 6.38 trillion yuan (US$851 billion) in the first nine months despite soaring consumer price index, the National Bureau of Statistics said on Friday. The growth rate of retail sales, a major gauge of consumer spending and an indicator of market movement, was 2.4 percentage points higher than the growth rate of the same period last year. In September alone, retail sales expanded 17 percent year-on-year. Analysts attributed the rise of retail sales to the increase of residents' disposable income as the income of both rural and urban residents rose more than 13 percent in the first nine months. Retail sales in urban areas climbed 16.3 percent to 4.33 trillion yuan while in rural areas it increased 14.9 percent to reach 886 billion yuan. Spending has contributed 37 percent to the GDP growth, but the proportion should be "still higher," said Zhuang Jian, senior economist with Asian Development Bank Resident Mission. (For more biz stories, please visit Industries)
|
台南县| 巩留县| 交口县| 建昌县| 浑源县| 南投县| 南木林县| 湘西| 体育| 五指山市| 湘潭县| 虎林市| 山丹县| 贞丰县| 扬州市| 大埔区| 湖口县| 乳源| 开平市| 土默特右旗| 霍州市| 石阡县| 泰来县| 夹江县| 沧州市| 措勤县| 兴城市| 安丘市| 新津县| 麦盖提县| 泗洪县| 潜江市| 牟定县| 海兴县| 涡阳县| 邵阳县| 丰原市| 桦甸市| 抚州市| 永福县| 岑巩县|