Retail and homes sales disappoint during Golden week vacation

There was growth, but not as much as anticipated.
China retail sales growth slows, but consumers still confident
Overall retail sales grew 15 percent during the National Day holiday, which coincided with the Mid-Autumn Festival to provide a rare eight-day break. That compared with 17.5 percent growth last year during a seven-day holiday.

"On the bright side, the figures suggested that consumer sentiment on the mainland is still strong and people are willing to spend despite the slowing economy," said Alex Fan, head of research at ICBC International.

楼市黄金周遇冷 54城签约套数环比剧降七成
Home sales were down in 54 cities in the week before the holiday, down 70% from the previous week, but final numbers from last week aren't available yet. Based on what I've seen, home sales were up from 2011 Golden Week, but still below 2010 levels at the peak of the housing bubble.

No comments:

Post a Comment