China: Total Retail Sales of Consumer Goods (YTD Cumulative) - 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

The newly released total retail sales of consumer goods in China (excluding automobiles) for Q3 2026 cumulatively reached 301,764 billion RMB, showing a steady cumulative growth compared to the previous value of 265,142 billion RMB. However, macro monthly data shows that overall retail sales in August grew by only 0.4% year-on-year, below the consensus expectation of 0.8%, indicating that overall domestic demand momentum remains weak amid the real estate downturn and extreme weather disruptions.

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AI Data Insight

The newly released total retail sales of consumer goods in China (excluding automobiles) for Q3 2026 cumulatively reached 301,764 billion RMB, showing a steady cumulative growth compared to the previous value of 265,142 billion RMB. However, macro monthly data shows that overall retail sales in August grew by only 0.4% year-on-year, below the consensus expectation of 0.8%, indicating that overall domestic demand momentum remains weak amid the real estate downturn and extreme weather disruptions.

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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