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

Macro

2026-09-15

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 Q3 2026, the cumulative year-on-year growth rate of China's total retail sales of consumer goods excluding autos was 2.7%, flat from the previous period, indicating that core commodity consumption is in a bottoming-out phase. Although communication equipment and service consumption performed well, the overall retail sales for the single month of July grew by only 0.6% YoY, missing expectations. The weakness in real estate and auto sales continues to suppress overall domestic demand momentum.

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AI Data Insight

In Q3 2026, the cumulative year-on-year growth rate of China's total retail sales of consumer goods excluding autos was 2.7%, flat from the previous period, indicating that core commodity consumption is in a bottoming-out phase. Although communication equipment and service consumption performed well, the overall retail sales for the single month of July grew by only 0.6% YoY, missing expectations. The weakness in real estate and auto sales continues to suppress overall domestic demand momentum.

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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