China's Ministry of Commerce: ”Consumer market saw stable growth in November” - Chinese media

China's Ministry of Commerce said, "The effects of the consumer goods replacement policy are continuing to be seen, and a series of consumption promotions were carried out in an orderly manner in November, maintaining stable growth in the consumer market."
According to data from the National Bureau of Statistics, the total retail sales of social consumer goods in November increased 3.0% year-on-year to 4.3763 trillion former (about 94 trillion yen). The total retail sales of social consumer goods in January-November was 4.3763 trillion former (about 94 trillion yen).
The November consumer market was characterized by favorable spending on large-item products. The retail value of goods in November increased 2.8% year-on-year to 44.2723 trillion yen.
The total was 3.7916 trillion yen (approximately 82 trillion yen). Of this, the retail value of home appliances at establishments of a certain size or larger showed a high growth of 22.2%. In addition, automobiles increased by 6.6% and furniture increased by 10.5%.
In addition, consumption of services showed relatively high growth. Retail sales of services in the first 11 months of the year increased by 6.4% compared to the same period of the previous year, an increase rate 3.2 percentage points higher than retail sales of goods.
In addition, online consumption is also steadily increasing. Nationwide online retail sales in the January-November period increased 7.4% year-on-year. Of this, online retail sales of physical goods increased 6.8%, resulting in a social
According to the State Post Administration, the volume of parcel delivery in November increased 14.9% compared to the same month last year.