China’s retail sales grew 1.1% year on year in September 2026, the data showed, coming in above the market forecast of 0.5%. The figure was also higher than the previous period’s reading of 0.4%.
What the figure measures
The retail sales measure tracks the total value of goods sold to consumers across the economy, from shops and online platforms alike. A year-on-year reading compares sales in September 2026 with the same month a year earlier, which strips out the effect of the calendar and gives a steadier picture of demand. A positive reading means consumer spending in cash terms is higher than it was a year before, while a reading below zero would indicate a contraction.
Against the forecast, the result was 0.6 percentage points above expectations. Against the previous period, it was 0.7 percentage points higher, a small step up that suggests spending gained slightly during the period.
The data was released at 02:00 GMT on 19 October 2026.
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