China: Total Retail Sales of Consumer Goods - Excluding Vehicles

Macro

2025-07-15

Description

China Total Retail Sales of Consumer Goods (except automobiles) is released by the National Bureau of Statistics (NBS). This indicator mainly measures the total sales of social consumer goods excluding automobiles during a period. By excluding automobile projects with high volatility, we can observe more core commodity consumption trends. Higher sales indicate stronger consumer confidence and economic health, while lower numbers may indicate a weaker economy.

Note: Retail sales of consumer refers to the amount of non-production, non-business physical goods sold directly by enterprises to individuals and social groups through transactions, as well as the amount of income obtained from providing catering services.

Published by
National Bureau of Statistics of China (Choice)
Frequency
Monthly
Next Update
Hashtags
China Retail Consumption

AI Data Insight

In September 2026, China's total retail sales of consumer goods excluding autos rose to RMB 3,879.2 billion, demonstrating significant growth from the previous month. Furthermore, the overall retail sales year-over-year growth rate reached 1.1%, outperforming the market consensus of 0.6%. Driven by the "trade-in" policy and holiday effects, sub-categories such as communication equipment experienced counter-trend growth. However, in the medium to long term, it remains necessary to monitor the drag from the real estate sector and the risks of structurally weak domestic demand.

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AI Data Insight

In September 2026, China's total retail sales of consumer goods excluding autos rose to RMB 3,879.2 billion, demonstrating significant growth from the previous month. Furthermore, the overall retail sales year-over-year growth rate reached 1.1%, outperforming the market consensus of 0.6%. Driven by the "trade-in" policy and holiday effects, sub-categories such as communication equipment experienced counter-trend growth. However, in the medium to long term, it remains necessary to monitor the drag from the real estate sector and the risks of structurally weak domestic demand.

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Description

China Total Retail Sales of Consumer Goods (except automobiles) is released by the National Bureau of Statistics (NBS). This indicator mainly measures the total sales of social consumer goods excluding automobiles during a period. By excluding automobile projects with high volatility, we can observe more core commodity consumption trends. Higher sales indicate stronger consumer confidence and economic health, while lower numbers may indicate a weaker economy.

Note: Retail sales of consumer refers to the amount of non-production, non-business physical goods sold directly by enterprises to individuals and social groups through transactions, as well as the amount of income obtained from providing catering services.

Published by
National Bureau of Statistics of China (Choice)
Frequency
Monthly
Next Update
Hashtags
China Retail Consumption