In June 2013, total retail sales of consumer goods amounted to RMB 1.8827 trillion with a year-on-year nominal growth rate of 13.3% (11.7% in real terms). The retail sales of consumer goods of enterprises above designated size reached RMB 976.4 billion, up 11.5%. The total retail sales of consumer goods generated from January to June was RMB 11.0764 trillion with a year-on-year growth rate of 12.7%.
From the perspective of sectors, in June, retail sales of clothing & shoes, home appliances, gold, silver and jewelry as well as furniture and interior decoration materials increased to 22.4%, 11.4%, 9.6% and 15% by 4.7%, 1.7%, 4.4% and 4.1% respectively from last month. It suggests consumption trading up invigorated consumption demands. Among these sectors, consumption growth in clothing & shoes rose significantly, which may be connected to seasonal sales. The consumption growth in other subsectors dropped down at different rates. Specifically, the consumption growth in home appliances fell to 11.7%, down 9.8%. Just as we estimated in the report of May, the great downturn was mainly due to termination of appliance rebate program. The consumption growth in gold, silver and jewelry decreased to 30.2%, which was still at a high level, down 8.2% from last month. , The consumption growth in furniture and interior decoration still declined by 2.9% and 1.7% from last month, marking declination for consecutive three months.
