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 April 2026, China's total retail sales of consumer goods excluding autos dropped to RMB 3,421.80 billion, a significant decline from the previous value of RMB 3,787.50 billion. The overall retail sales year-on-year growth rate was only 0.2%, substantially missing the market expectation of 2.0%, indicating that sluggish consumption related to the auto and real estate markets is severely dragging down the recovery of domestic demand.

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AI Data Insight

In April 2026, China's total retail sales of consumer goods excluding autos dropped to RMB 3,421.80 billion, a significant decline from the previous value of RMB 3,787.50 billion. The overall retail sales year-on-year growth rate was only 0.2%, substantially missing the market expectation of 2.0%, indicating that sluggish consumption related to the auto and real estate markets is severely dragging down the recovery of domestic demand.

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Macro
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