China News Service, October 27th, Ministry of Commerce spokesperson Shu Jueting said at a regular press conference held on the 27th that since the beginning of this year, with the implementation of the policy of stabilizing the economy and promoting consumption, my country's consumer market has continued to resume growth in general.
From January to September, the total retail sales of consumer goods increased by 0.7% year-on-year, and the growth rate was 0.2 percentage points higher than that from January to August.
In terms of quarters, the total retail sales in the third quarter increased by 3.5% year-on-year, which was significantly faster than that in the second quarter; the contribution rate of final consumption expenditure to economic growth was 52.4%, driving GDP growth by 2.1 percentage points.
The total retail sales in September increased by 2.5% year-on-year. Although the growth rate has dropped from August, it has continued the recovery momentum since June.
At the same time, we have also seen that due to unexpected factors such as the epidemic, the operation of market players in physical retail, catering, accommodation and other industries is still facing considerable pressure.
In the next stage, with the continuous progress of coordinating epidemic prevention and control and economic and social development, the effect of policies and measures to stabilize the economy and promote consumption will be further manifested, and consumption is expected to continue to recover steadily.
(Zhongxin Finance)