Analysis On Retail Sales Of China'S Textile And Clothing Industry From January To July 2020: Retail Sales Decreased By 17.5% Year On Year (Table)

According to the National Bureau of statistics, In July, China's total retail sales of consumer goods totaled 322.3 billion yuan, a year-on-year decrease of 1.1% (the actual decrease after deducting price factors is 2.7%, and the following are nominal growth except for special instructions), and the decline rate is 0.7 percentage points lower than that of the previous month. The total amount of retail sales decreased by RMB 2049 million to RMB 45.7 billion.

In terms of textile and clothing retail, in July 2020, the total retail sales of national textile and clothing reached 88.9 billion yuan, a decrease of 2.5% compared with the same period last year. From January to July, China's total retail sales of textile and clothing exceeded 595.9 billion yuan, down 17.5% year-on-year.

Total retail sales and year-on-year growth of China's textile and garment industry from 2019 to 2020

Data source: compiled by National Bureau of statistics and China Academy of Commerce and industry

From the perspective of the growth rate of textile and clothing retail sales, the growth rate of China's textile and clothing retail sales from January to July 2020 decreased by 17.5% year-on-year, which was 7.6% lower than the growth rate of social consumer goods retail sales in the same period.

Growth of China's textile and clothing retail sales and total retail sales of social consumer goods from 2019 to 2020

Data source: compiled by National Bureau of statistics and China Academy of Commerce and industry