BEIJING, 7th January, 2025 (WAM) -- The China General Chamber of Commerce reported on Monday that the retail prosperity index rose to 51.1 points in January, up 0.7 points from the previous month and 0.2 points higher year-on-year.
The sub-index for merchandise businesses hit 51.8, up 1.8 points from December. The profitability sub-index climbed by 4.9 points, while the average transaction value index increased by 2.0 points, both marking their highest levels in a year, indicating a recovery in business performance.
According to Global Times, analysts noted that the uptick was largely attributed to the Chinese Lunar New Year shopping spree and recently launched trade-in programmes by the government.
Several factors have contributed to the surge in consumer spending, with the upcoming Spring Festival holidays expected to boost spending on dining, tourism and shopping.