China Concerned about the impact of price increases on consumption recovery via online shopping Sale December 16th 14:48
In China, consumption grew in November compared to the same month last year due to the strong sales of large-scale online shopping. However, prices continue to rise, and there are concerns about future household and consumption effects.
According to the announcement by the National Bureau of Statistics of China, the total amount of retail sales in November, which shows the consumption situation, increased by 0.8 percentage points from the previous month, growing by 8.0% compared to the same month last year.
This is due to the large increase in sales of large-scale online shopping on November 11, which is called “Single Day” in China.
However, the reaction of this sale is expected in the future, and in China, prices have continued to rise, with pork prices rising more than twice that of last year due to the impact of ASF, the so-called African swine fever cholera. There are concerns about the impact on households and consumption.
In addition, investment in fixed assets such as infrastructure and manufacturing equipment announced at the same time, the growth rate of cumulative investment from January to last month was 5.2%, which remained flat compared to the previous month.
Investment in the manufacturing industry has been sluggish due to prolonged trade friction between the United States and China.
In this regard, a spokesman for China's National Bureau of Statistics said, “The uncertainties in the market have declined because the trade negotiations between the United States and China reached the first stage of agreement,” and hopes for a recovery in investment in the future. I showed a feeling.