China retail sales up 1.7% in December

December retail sales growth in China was the lowest since August 2020. Their amount increased by 1.7% compared to the same period after rising by 3.9% in November. Analysts predicted retail growth in December by 3.7%. At the end of 2021, retail sales increased by 12.5%. Online sales jumped 13.4%. China’s industrial productivity showed accelerated growth in December. Its volume increased by 4.3% year on year, while the growth forecast was 3.6%. In November, it grew by 3.8%. The volume of investments in fixed assets increased by 4.9% in 2021. It amounted to 54.5 trillion yuan or 8.6 trillion dollars. The unemployment rate in China rose in December against the November level by 0.1 percentage points to 5.1%. A higher inflation rate was recorded in August 2021. The number of new jobs in the country amounted to 12.7 million last year, which is 0.8 million more than in 2020.


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Arseny Kudrin

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