Summary Of Consumption In Mid 2018: Wear Is Not Important. Health And Housing Are The First Ones.

Chinese consumer demand for clothing is decreasing year by year.

On Monday, the National Bureau of statistics of China released the six months' data that people expect. The official statement said that in the first half of the year, "the national economy continued to develop smoothly and steadily, and the structural adjustment was further promoted. The old and new kinetic energy continued to pform, and the quality and efficiency improved steadily.

After China's retail industry grew at a 15 year low in May, the 9% growth rate rebounded in June and exceeded the 8.8% increase expected by the market.

In June, the total retail sales of consumer goods in China totaled 30842 billion yuan, an increase of 9% over the nominal period (a real increase of 7% after deducting the price factor, with nominal growth below all except for special reference).

Among them, the retail sales of consumer goods above the quota reached 12448 billion yuan, an increase of 6.5%.

In 2018 1-6, retail sales of consumer goods totaled 180018 billion yuan, an increase of 9.4% over the same period last year.

Among them, the retail sales of consumer goods above the quota reached 69938 billion yuan, an increase of 7.5%.

In 2018 1-6, retail sales of supermarkets, department stores, specialty stores and specialty stores in the above retail units increased by 7.4%, 4.6%, 9.5% and 6.2%, respectively.

Quarterly, China's retail sector grew by 9.8% in the first quarter and 9% in the two quarter.

Mao Shengyong, spokesman for the National Bureau of statistics, said at a press conference on Monday that the actual retail sales in 5 and June should be around 10% and 11% respectively. As a result of the adjustment of import tariff in July 1st, the retail sales of 13% accounted for 13%.

He also said that at present, China's physical consumption upgrading products are increasing rapidly, and the consumption of services has maintained rapid growth. On the whole, "consumption in China has maintained a relatively fast growth momentum, rather than weakness."

Increased health care and housing expenditure

In the first half of 2018, the per capita disposable income of the whole country was 14063 yuan, an increase of 8.7% over the same period of last year, and the actual growth rate was 6.6% after deducting the price factor.

Among them, the per capita disposable income of urban residents was 19770 yuan, an increase of 7.9%, a real increase of 5.8% after deducting price factors, and a per capita disposable income of 7142 yuan for rural residents, an increase of 8.8%, a 6.8% increase in real terms after deducting price factors.

In the first half of the year, the per capita consumption expenditure of the whole country was 9609 yuan, an increase of 8.8% over the nominal period, an increase of 1.2 percentage points over the first quarter, a 6.7% increase in real terms and a 1.3 percentage point increase in price.

Among them, the per capita consumption expenditure of urban residents increased by 6.8%, accelerated by 1.1 percentage points, and the per capita consumption expenditure of rural residents increased by 12.2% and 1.2 percentage points respectively.

The proportion of per capita consumption expenditure was 7.4% (7.8% in the same period last year); the per capita living consumption expenditure was 2157 yuan, increasing 12.4%, accounting for the 22.4% per capita consumption expenditure (21.7% a year earlier); the per capita consumption of household goods and services increased by 22.4% yuan, accounting for the proportion of per capita consumption expenditure; the proportion of per capita consumption expenditure of pportation and communications was RMB yuan; the proportion of per capita consumption expenditure was only; the per capita consumption of education, culture, entertainment and consumption was RMB yuan, the growth rate was just as large as that of per capita consumption expenditure; the per capita health care consumption expenditure was RMB yuan, the growth rate was about 10%, accounting for the proportion of per capita consumption expenditure (the same period last year); in the first half of the year, consumption per capita of food, tobacco and alcohol was 2814 yuan, an increase of 5.1%, accounting for 29.3% of the total consumption expenditure per capita, and 710 yuan per capita clothing consumption, an increase of 6.3%.

In terms of consumption expenditure, the proportion of clothing consumption and consumption per capita has been significantly reduced. Meanwhile, the expenditure on health care has increased significantly.

It shows that the consumption pfer situation of the whole country is obvious, especially the urban residents.

In the first half of 2018, the clothing consumption of urban residents increased by only 4.6% to 992 yuan, accounting for 7.8% of consumption expenditure (7.9% in the same period last year), and the clothing consumption of rural residents increased by 9.4% to 368 yuan, accounting for 6.3% of consumption expenditure (6.5% over the same period last year).

The reduction in clothing demand is also reflected in the increase in prices and inflation.

In the first half of the year, the national consumer prices rose 2% over the same period last year, of which the prices of food, tobacco and alcohol rose by 1.4% compared with the same period last year, the clothing increased by 1.1%, living increased by 2.3%, daily necessities and services increased by 1.6%, traffic and communications increased by 1.2%, educational culture and entertainment increased by 2.1%, medical care increased by 5.5%, and other goods and services increased by 1.1%.

The price of clothing and health care prices are also at two levels, reflecting the supply and demand side.

First, online sales still showed strong performance in the case of slower growth in retail sales than last year.

In 1-6 months of 2018, the national online retail sales volume was 40810 billion yuan, up 30.1% over the same period last year.

Among them, the online retail sales of physical commodities increased by 31277 yuan, an increase of 29.8%, accounting for 17.4% of the total retail sales of social consumer goods, and the consumption, wear and use of commodities increased by 42.3%, 24.1% and 30.7% respectively in online retail sales of physical commodities.

In the first half of the year, the contribution rate of final consumption expenditure to economic growth was 78.5%, which was 47.1 percentage points higher than the total capital formation.

Preliminary accounting, in the first half of this year, GDP of 418961 billion yuan, calculated at comparable prices, an increase of 6.8% over the same period last year.

Quarterly view, the first quarter grew 6.8%, an increase of 6.7% in the two quarter, 12 consecutive quarters in the 6.7%-6.9% interval.