15.12.202502:03:06UTC+00China Retail Sales Growth Below Forecasts

China's retail sales witnessed a modest increase of 1.3% in November 2025 compared to the same month the previous year. This rise was slower than the figures recorded in October and fell short of the market's expectations of a 2.9% increase. The growth rate was the most tepid since December 2022, despite the continuation of Beijing's consumer subsidy initiatives. Among the various categories, sales of grains, oil, and food decelerated to 6.1% from 9.1% in October, while sports and entertainment goods recorded a mere 0.4% rise compared to the previous 10.1%. Clothing, footwear, and textiles showed a growth of 3.5%, down from 6.3%, and cosmetics experienced a lower climb of 6.1% against 9.6%. Precious metals like gold, silver, and jewelry also saw reduced growth, increasing by 8.5% in contrast to the substantial 37.6% earlier. Sales of office supplies rose by 11.7%, and communication equipment increased by 20.6%, both figures reflecting a deceleration from previous months. Meanwhile, turnover experienced a further decline for household appliances and audio-visual equipment, dropping by 19.4% compared to October's 14.6% decrease. The auto sector saw a decline of 8.3%, building materials fell by 17.0%, and petroleum products decreased by 8.0%. Additionally, the turnover of personal care items dipped by 0.8% following a 7.4% increase. Cumulatively, for the first eleven months of 2025, retail trade saw an overall increase of 4.0% compared to the same period the year before.