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<Research>M Stanley: CN Aug Retail Sales Miss; Sep's Weak Track May Persist
Recommend 16 Positive 23 Negative 28 |
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Morgan Stanley's report cited that mainland China's retail sales growth slowed to 2.1% YoY in August, vs 2.7% YoY growth in July, missing the market's original forecast of 2.5%, which reflected continued weak sentiment. The broker expected this weak trend to continue in September. A breakdown of the YoY trends by category indicated that electronic products and electrical appliances logged the highest YoY growth, probably due to government subsidies for equipment upgrades. F&B logged minor improvements. Apparel, Shoes and Textiles improved, but remained in negative territory. Meanwhile, the Sports and Entertainment saw the largest YoY deceleration in growth. AAStocks Financial News |
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