China’s retail sales growth slowed in August 2026, with the headline figure rising 0.4% year-on-year, down from a 0.6% increase recorded in July 2026. The latest data, updated on 15 September 2026, point to a further moderation in consumer spending momentum.
Both the current and previous readings are calculated on a year-over-year basis, comparing each month’s retail sales to the same month a year earlier. The deceleration from July to August suggests that household demand remained subdued and that any recovery in consumer activity is fragile.
The softer August reading will likely reinforce concerns about the strength and durability of China’s domestic demand, a key pillar for the country’s broader economic performance in the second half of 2026.
