CNBC: China's retail sales rise for first time in 2020
China Daily
1600419093000

Customers shop for imported products at an outlet in Lianyungang Free Trade Zone in Jiangsu province on Aug 25. (Photo: China Daily)

Chinese consumers stepped up their spending in August, in a sign of further economic recovery after the shock of the coronavirus pandemic, according a CNBC report on Tuesday.

Retail sales rose 0.5 percent in August from a year earlier, the first positive report for the year so far, CNBC said, quoting China's National Bureau of Statistics. Notably, sales of communication equipment rose 25.1 percent year-on-year and that of autos rose 11.8 percent.

Statistics showed retail and online retail sales of physical goods grew 15.8 percent during the first eight months year-on-year.

The unemployment rate as measured by the official survey of cities was 5.6 percent, 0.1 percentage points lower than July.