Wires

China Golden week retail sales growth dips to 15 pct

BEIJING, Oct 7 (Reuters) - China's retail sales growthslowed during the Golden Week holiday, local media said onSunday, providing a snapshot of increasingly important sourcesof demand in the world's second-largest economy.

Overall retail sales revenue grew 15 percent to hit 800.6billion yuan ($127.4 billion) during the National Day holiday,which coincided with the Mid-Autumn Festival to provide a rareeight-day break, China's state television China CentralTelevision said.

That marked a cooldown from the 17.5 percent growth lastyear during a seven-day holiday. No further details were given,

The Golden Week holiday, when millions of people take timeout to travel and spend more than usual, brings huge discountsand promotions as retailers battle for market share.

Economists are watching China's 1.3 billion consumersclosely during the National Day Golden week holiday, runningfrom Sept 30 to Oct 7, amid escalating worries about China'shard landing.($1 = 6.2849 Chinese yuan)

(Reporting by Judy Hua and Koh Gui Qing; editing by Ron Askew)

((donny.kwok@thomsonreuters.com)(+852 2843 6470)(ReutersMessaging: donny.kwok.reuters.com@reuters.net))

Keywords: CHINA/GOLDENWEEK

Related Tags