China's May Retail Sales Fall 0.6% to 4.11 Trillion Yuan as Auto Demand Slumps 16.1%
Updated
Updated · stats.gov.cn · Jun 18
China's May Retail Sales Fall 0.6% to 4.11 Trillion Yuan as Auto Demand Slumps 16.1%
3 articles · Updated · stats.gov.cn · Jun 18
Summary
4.109 trillion yuan in May retail sales marked a 0.6% year-on-year decline, while sales excluding automobiles still rose 1.1%, pointing to cars as the main drag.
Motor vehicle sales fell 16.1% in May, far worse than the 0.7% drop in goods retail overall; household appliances also slid 15.6% and building materials 13.6%.
Urban retail sales dropped 0.9% and goods sales fell 0.7%, but rural sales rose 1.5% and catering revenue edged up 0.6%, showing pockets of consumer resilience.
January-May retail sales still increased 1.4% to 20.6 trillion yuan, supported by 5.9% growth in online goods-and-services sales and stronger convenience store and supermarket turnover.
The weak May reading follows earlier signs of fuel-linked pressure on consumption, with gasoline car sales already reported down sharply as higher energy costs pushed buyers toward EVs and hybrids.