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First-quarter retail sales hit 45.762 bln yuan
2014-04-03 10:58:23 visits:553

Information from the Trade Bureau on the 20th, April showed that the city realized social retails of 45.762 billion yuan in the first quarter, up 14.6% over the same period last year and 1.5% lower than the average growth of the province.

The retail sales have declined significantly and the pulling effect is retreating. Last year, the car market was like blockbuster expansion, stimulated the program of Vehicles Going to Countryside and Trade-in-Old-for-New policy. With the ending of the incentives and the early release of future demand, the growth of car sales from Jan to Mar has dropped by 42.7%.

The growth of building and decoration materials has also slowed down. On the other hand, some hedge funds has entered the gold and jewelry market, which has pushed up the sales by 61.8%, 18.4% higher than that of the previous year. Due to the small proportion in economy, it does not exert a significant pulling effect on the market at large.

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