Source:
https://scmp.com/article/397649/retail-sales-october-witness-years-largest-rise

Retail sales in October witness year's largest rise

October's retail sales increased 9.4 per cent over the same month last year to 366.2 billion yuan (HK$344.2 billion), the largest rise so far this year, the National Bureau of Statistics said. Car and mobile phone sales drove growth.

'What the retail sales numbers suggest is resilient consumer spending rather than some market fears it may be weakening. It's not, especially if you look at real growth,' said Yiping Huang, Salomon Smith Barney's China economist.

Deflation pulled down China's consumer price index, which the bureau yesterday said fell 0.8 per cent last month. That means the actual sales growth rate 'is already above 10 per cent because prices are declining', Mr Huang said.

Sales of cars more than doubled, jumping 130 per cent, surpassing sales of telecommunications equipment, which surged 91 per cent, the bureau said on its Web site.

With more people dining out last month, restaurant industry sales grew 17.7 per cent, the fastest rise this year so far, to 48.8 billion yuan. Sales of toys jumped 23.5 per cent in October over last year, while sales of home appliances and audiovisual products grew 22 per cent. Food and clothing sales rose 13.9 per cent and 5.1 per cent respectively.