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China Retail Sales YoY

China's retail sales year-over-year grew 3% in September 2025, down from 3.4% in August 2025. This represents the slowest growth since November 2024. The slowdown is due to fading consumer goods trade-in schemes and weak domestic demand. The property market downturn and a difficult global economy are pressuring consumer confidence and spending. China's record low retail sales YoY was -20.5% in January 2020 and record high was 34.2% in March 2021.

Monthly Historical Data (2015-2025)

(in %)
Month Retail Sales YoY
Sep 2025 3%
Aug 2025 3.4%
Jul 2025 3.7%
Jun 2025 4.8%
May 2025 6.4%
Apr 2025 5.1%
Mar 2025 5.9%
Feb 2025 4%
Dec 2024 3.7%
Nov 2024 3%
Oct 2024 4.8%
Sep 2024 3.2%
Aug 2024 2.1%
Jul 2024 2.7%
Jun 2024 2%
May 2024 3.7%
Apr 2024 2.3%
Mar 2024 3.1%
Feb 2024 5.5%
Dec 2023 7.4%
Nov 2023 10.1%
Oct 2023 7.6%
Sep 2023 5.5%
Aug 2023 4.6%
Jul 2023 2.5%
Jun 2023 3.1%
May 2023 12.7%
Apr 2023 18.4%
Mar 2023 10.6%
Feb 2023 3.5%
Jan 2023 3.5%
Dec 2022 -1.8%
Nov 2022 -5.9%
Oct 2022 -0.5%
Sep 2022 2.5%
Aug 2022 5.4%
Jul 2022 2.7%
Jun 2022 3.1%
May 2022 -6.7%
Apr 2022 -11.1%
Mar 2022 -3.5%
Feb 2022 6.7%
Dec 2021 1.7%
Nov 2021 3.9%
Oct 2021 4.9%
Sep 2021 4.4%
Aug 2021 2.5%
Jul 2021 8.5%
Jun 2021 12.1%
May 2021 12.4%
Apr 2021 17.7%
Mar 2021 34.2%
Feb 2021 33.8%
Jan 2021 33.8%
Dec 2020 4.6%
Nov 2020 5%
Oct 2020 4.3%
Sep 2020 3.3%
Aug 2020 0.5%
Jul 2020 -1.1%
Jun 2020 -1.8%
May 2020 -2.8%
Apr 2020 -7.5%
Mar 2020 -15.8%
Feb 2020 -20.5%
Jan 2020 -20.5%
Dec 2019 8%
Nov 2019 8%
Oct 2019 7.2%
Sep 2019 7.8%
Aug 2019 7.5%
Jul 2019 7.6%
Jun 2019 9.8%
May 2019 8.6%
Apr 2019 7.2%
Mar 2019 8.7%
Feb 2019 8.2%
Jan 2019 8.2%
Dec 2018 8.2%
Nov 2018 8.1%
Oct 2018 8.6%
Sep 2018 9.2%
Aug 2018 9%
Jul 2018 8.8%
Jun 2018 9%
May 2018 8.5%
Apr 2018 9.4%
Mar 2018 10.1%
Feb 2018 9.7%
Jan 2018 9.7%
Dec 2017 9.4%
Nov 2017 10.2%
Oct 2017 10%
Sep 2017 10.3%
Aug 2017 10.1%
Jul 2017 10.4%
Jun 2017 11%
May 2017 10.7%
Apr 2017 10.7%
Mar 2017 10.9%
Feb 2017 9.5%
Jan 2017 9.5%
Dec 2016 10.9%
Nov 2016 10.8%
Oct 2016 10%
Sep 2016 10.7%
Aug 2016 10.6%
Jul 2016 10.2%
Jun 2016 10.6%
May 2016 10%
Apr 2016 10.1%
Mar 2016 10.5%
Feb 2016 10.2%
Jan 2016 10.2%
Dec 2015 11.1%
Nov 2015 11.2%
Oct 2015 11%
Sep 2015 10.9%
Aug 2015 10.8%
Jul 2015 10.5%

Recent Events

datetime event actual previous consensus
2025-10-19 10:00 PM Retail Sales YoY (Sep) 3% 3.4% 2.9%
2025-09-14 10:00 PM Retail Sales YoY (Aug) 3.4% 3.7% 3.8%

Next Release Date :

China Retail Sales YoY : Definition
China Retail Sales YoY shows the percentage change in the total value of retail sales in China compared to the same period of the previous year. It reflects consumer spending, a key economic indicator. Sales include goods and services. A rise signals economic growth.