Retail sales in Asia, and in particular, China, Vietnam andNew Zealand are showing continued growth, according to official figures citedon KamCity.com
Retail sales in China rose by a strong 17.9 per centyear-on-year in July, taking the total growth in the January-June period to18.2 per cent, the publication said. However, analysts noted that the growthhas been boosted by government stimulus, and volumes have begun to weaken inrecent months as consumer inflation continues to rise.
Meanwhile, sales in Vietnam have surged 26.4 per centyear-on-year to US$45bn in the first seven months of the year. The GeneralStatistics Office said that state-run businesses saw sales rise by 41.5 percent, while private firms recorded 42.2 per cent growth.
Sales in New Zealand during the April-June quarter rose by1.3 per cent from the first three months of the year, marking the fifthstraight quarterly rise, and they were up 2.8 per cent from last year. Sales atsupermarkets and grocery stores, which make up about a quarter of core sales,rose by 0.8 per cent after a 1.2 per cent drop in the first three months.
