According to data released by China's National Bureau of Statistics, due to factors such as the economic slowdown, decreased exports, and falling share prices, China's retail sales in the first two months of 2009 only increased by 15.2% year-on-year.
The statistics showed that the total retail sales in January and February 2009 reached CNY2.008 trillion, a year-on-year increase of just 15.2%.
Analyzed by region, urban retail sales were CNY1.354 trillion, an increase of 14.4% and at the county and sub-county levels retail sales were CNY2,653.94 billion, an increase of 17.0%.
Analyzed by industry, wholesale and retail sales were CNY1.68 trillion, an increase of 14.8%; hospitality and catering industry retail sales were CNY301.59 billion, an increase of 18.9%; and for other industries retail sales were CNY26.44 billion, an increase of 2.6%.
In addition, the retail sales of food, clothing, and daily commodities increased by 14.2%, 15.9%, and 7.6%, year on year respectively.