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China’s retail sales will increase for the first time in 2020



People are shopping in a mall in Beijing on August 14, 2020.

Nicolas Asfouri | AFP | Getty Images

BEIJING – Chinese consumers intensified their spending in August as a sign of further economic recovery from the shock of the coronavirus pandemic.

Retail sales rose 0.5% in August from a year ago, the first positive report for the year so far, China̵

7;s National Bureau of Statistics said on Tuesday. In particular, sales of communication equipment increased by 25.1% from the previous year, and that of cars increased by 11.8%.

The retail level in the first eight months of the year fell 8.6% from the year before, the agency said. Online retail sales of physical goods grew by 15.8% during that time, the data show.

Unemployment measured by the official survey of cities was 5.6%, 0.1 percentage points lower than in July, the agency said.

Industrial production grew by 5.6% in August from a year ago.

Investments in fixed assets fell 0.3% in the first eight months of the year. It was not immediately clear what the year-on-year figure for August was.

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