Main features of the consumer markets in October
Dec 24, 2015 ｜ by
Main features of the consumer markets in October
Edited by Flora
Edited by Flora
Since the beginning of this year, the domestic consumer market maintained a steady growth, and the consumption growth increased recently, playing an important role in stabilizing economic growth. In October, the retail sales of consumer goods reached RMB2.83 trillion, up 11.0% year on year, and with the price factor excluded, the actual growth was 11.0%, 0.1 and 0.2 percentage points higher than September respectively. The monthly growth saw a pick up for three consecutive months. In January-October the retail sales of consumer goods was up 10.6%, 0.1 percentage points higher than the first three quarters. The main features of the consumer markets in October are as follows:
l Online consumption maintained a rapid growth. In October, the online retail sales of enterprises monitored by the Ministry of Commerce was up 39.9%, 6.5 percentage points higher than the same period of last year, and 39.8, 32.7 and 37.2 percentage points higher than those of the special stores, supermarkets and department stores in the same month. According to the statistics of National Bureau of Statistics, the online retail sales of physical commodities in October was up 21.8% year on year, accounting for 10.4% of the total retail sales of consumer goods.
l Rural consumption maintained a rapid growth. Driven by the rapid growth of rural consumer demands, the rural consumption in October was up 12.2%, contributing 14.9% to the growth of total retail sales of consumer goods in October, and 0.5 percentage points higher than the same period last year. At the same time, growth of urban and rural consumption saw a larger gap, with rural consumption 1.4 percentage points higher than urban consumption, 0.4 percentage points larger than the same period last year.
l Automobile consumption picked up. Driven by the policy stimulation and the upgrading demands of the market, the automobile market picked up in October. Sales of automobiles of enterprises above designated size was up 7.1% year on year, 4.4 percentage points higher than September and 2.6 percentage points higher than the same period last year respectively. According to the statistics of China Association of Automobile Industry, the automobile sale in October was up 11.8% year on year, 9.7 percentage points higher than September. The sale of passenger car was up 13.3%, with sale growth of SUV over 60%. According to the statistics of the Ministry of Industry and Information Technology, the sale of new energy automobile in October was up 3.1 times year on year.
l Consumption for service was vigorous. Dining out in holidays and festival increased, which drove catering consumption to pick up. In October, the national catering revenue was up 12.4%, 2.7 percentage points higher than the same period of last year. The catering revenue of enterprises above the designated size was up 6.7 percentage points. In October, the film box office reached RMB4.92 billion, and that in the National Day Holidays was up 66.4% year on year. According to the statistics of National Tourism Administration, the domestic tourists in the National Day Holidays reached 520 million, up 10.7% year on year with the tourism revenue reaching 17.9%.
l Housing consumption picked up. The picking up of real estate market drove the sustainable and rapid growth of consumption for housing commodities. In October, the sales of building materials, furniture and household appliances of enterprise above the designated size were up 19.7%, 12.4% and 7.1% respectively, 5.3, 0.7 and 0.6 percentage points higher than the same period of last year respectively.
l Consumer price increased gently. In October, CPI was up 1.3%, 0.3 percentage points lower than last month and than the same period last year. According to the Ministry of Commerce, the general price level of farm products in the 36 large and medium sized cities was up 0.5% year on year, with pork, chicken and milk up 13.7%, 2.7% and 2.4% respectively; and mutton, eggs and vegetable down 12.4%, 8.2% and 7.2% respectively.
(Source: MOFCOM)
