As we discussed in Commodore's most recent Weekly China Report, China’s clothing sales, furniture sales, and household appliance (including consumer electronics) sales all contracted on a year-on-year basis last month. Clothing sales in China (which includes garments, footwear, hats, and knitwear) contracted year-on-year last month by 0.5%. Previously, clothing sales had increased on a year-on-year basis for six straight months.
Furniture sales in China fell year-on-year by 6%. Sales have now contracted on a year-on-year basis for four straight months. Prior to these last four months, furniture sales had grown on a year-on-year basis for three straight months.
Household appliance sales (which includes consumer electronics) in China fell on a year-on-year basis by 10%. Sales have now contracted during ten of the last eleven months.
