China: Total Retail Sales of Consumer Goods (YoY) - Excluding Vehicles

Macro

2026-06-16

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 May 2026, the year-on-year growth rate of China's retail sales of consumer goods excluding automobiles fell to 1.1%, lower than the previous 1.8%, indicating weak core consumption momentum. Compounded by overall retail sales of consumer goods experiencing its first negative growth in over 3 years, market concerns over "strong supply, weak demand" have intensified. Authorities may need to roll out stronger stimulus policies to rescue domestic demand.

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AI Data Insight

In May 2026, the year-on-year growth rate of China's retail sales of consumer goods excluding automobiles fell to 1.1%, lower than the previous 1.8%, indicating weak core consumption momentum. Compounded by overall retail sales of consumer goods experiencing its first negative growth in over 3 years, market concerns over "strong supply, weak demand" have intensified. Authorities may need to roll out stronger stimulus policies to rescue 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