The China retail prosperity index, a barometer of retailers' expectations for the sector, went up this month, signaling retail enterprises' increasing confidence in the consumer market, according to the industry data released by the China General Chamber of Commerce (CGCC) on Monday.
The data show that the index stood at 51.1 percent in January, marking a month-on-month increase of 0.7 percentage points and a 0.2-percentage-point growth compared to one year ago.
The sub-index for commodity business came in at 51.8 percent, up 1.8 percentage points from December.
The profitability and per customer transaction indexes went up by 4.9 and 2.0 percentage points respectively on a monthly basis, both reaching a new high in about a year.
A reading above 50 indicates expansion, while a reading below 50 reflects contraction.
The data also show that the upcoming Spring Festival holiday and the implementation of a new round of trade-in program for home appliances and other goods have driven up consumer demand across county areas, which play a significant role in boosting overall consumption growth.
China's retail prosperity index up in January
China's retail prosperity index up in January
China's retail prosperity index up in January
