Data | Retail Sales of Household Appliances and Audio-Visual Equipment in November up 22.2% YoY

On December 16, the National Bureau of Statistics released the economic performance report for November. In terms of consumption, in November, total retail sales of consumer goods amounted to 4.3763 trillion yuan, a 3.0% increase year-on-year, with a month-on-month increase of 0.16%. Notably, the "trade-in" policy continued to show positive effects, with significant sales growth in the home appliance, furniture, and automotive sectors. In November, the retail sales of household appliances and audio-visual equipment, furniture, and automobiles for businesses above a designated size grew by 22.2%, 10.5%, and 6.6%, respectively. These categories made a notable contribution to the overall retail sales growth, becoming an important driver of consumption expansion.