China's retail sales up 10.6%
15 March 2004
China's retail sales experienced a 10.5% year-on-year increase during January and February, according to statistics released by China's National Bureau of Statistics. Sales reached US$106 billion during the two-month period. The two-month rise in retail sales follows 10.9% and 9.7% increases in December and November 2003, respectively. The bureau calculates statistical data from January and February together to compensate for economic distortion resulting from the Lunar New Year holiday, which came during January this year.
