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China's retail sales up 23.2% in August

(Xinhua)
Updated: 2008-09-12 11:19

Domestic retail sales kept the growing momentum of previous months and registered an increase of 23.2 percent in August, said the National Bureau of Statistics (NBS) on Friday.

The growth rate was 6.2 percentage points higher than the same period last year and 0.1 percentage points lower than the previous month. The August retail sales totaled 876.8 billion yuan ($128.9 billion).

It brings China's retail sales of consumer goods in the first eight months of this year to 6,843.9 billion yuan, up 21.9 percent, compared with a 15.7 growth recorded during the same period last year.

Urban consumption jumped 23.9 percent year on year to 601.5 billion yuan, while rural residents spent 275.3 billion yuan, up 21.8 percent.

Whole sale and retail sales hit 736.1 billion yuan, up 23.2 percent, while hotel and catering industry reported 124.5 yuan, up 26.3 percent. Retail sales in other industries reached 16.2 billion yuan, up 2.6 percent.

Automobile sales grew by 19 percent, while oil and related products jumped 49.4 percent.