China's total retail sales of consumer goods to grow 3.7% year-on-year in December 2024 - Chinese report

According to the National Bureau of Statistics of China, the total retail sales of social consumer goods in December 2024 increased 3.7% from the same month last year to 4.5172 trillion former (about 96 trillion yen). Retail sales of consumer goods excluding automobiles were
The total retail value of consumer goods for the whole of 2024 is expected to increase 3.5% year-on-year to 48.7895 trillion former (approximately 1,034 trillion yen), of which automobiles are expected to account for 1.2%.
Excluding consumer goods, retail sales increased 3.8% to 43.7581 trillion yen (approximately 928 trillion yen). By location of business establishments, urban areas increased 3.7% to 3.8445 trillion yen (approximately 82 trillion yen) in December.
In 2024, urban areas will increase by 3.4% to 42.1166 trillion formers (approximately 893 trillion yen), while rural areas will increase by 4.3% to 6.6729 trillion formers (approximately 14 trillion yen).
Looking at the breakdown of consumption, in December, retail sales of goods increased 3.9% to 3.9623 trillion yen (about 84 trillion yen), and restaurant revenue increased 2.7% to 554.9 billion yen (about 12 trillion yen).
In 2024, retail sales are expected to increase by 3.2% to 43.2177 trillion yen (approximately 916 trillion yen), and restaurant revenues are expected to increase by 5.3% to 5.5718 trillion yen (approximately 118 trillion yen).
Meanwhile, national online retail sales in 2024 are expected to increase by 7.2% to 15.5225 trillion former (approximately 329 trillion yen). Of this, physical goods sales are expected to increase by 6.5% to 13.816 trillion former (approximately 329 trillion yen).
Of the online retail sales of physical goods, food increased by 16.0%, clothing by 1.5%, and daily necessities by 6.3%, respectively.
Ta.