Consumption structure improved significantly

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Category: Ningbo News

Published: Monday, 03 December 2012 09:10

It is learned from Ningbo Trade Bureau on November 27 that in the first ten months this year, the accumulated volume of retail sales of social consumer goods in Ningbo reached 98.46 billion yuan, up by 11.6% over the same period last year, and the volume of October reached 10.22 billion yuan, up by 7.9%. Under the influence of the gloomy macro-economic environment, the growth of retail sales of social consumer goods has slowed down. However, after about one year's structural adjustment, the consumption structure has improved significantly and the sales have shown a trend of stable rising.

In October, after nearly one year's adjustment, as well as the flourishing of housing and wedding market in the second half of the year, the sales of furniture and construction & decoration materials increased by 223.1% and 109.9% respectively. In October, the sales of daily necessities increased by 19.7%, with sales of food, beverage, tobacco and liquor increasing by 12.4% and sales of garment, shoes and hats, and textiles increasing by 30.6%. Inflation factor considered, the growth is similar to that of 2011. In addition, in the first ten months, the retail sales of cars increased by 3.3%, and those of the petroleum and related products increased by 19.1%, showing a bouncing-back trend of consumption of automobiles and related products.

Different from the gloomy development of retail enterprises in the first nine months this year, in October, except for the department stores, the sales for such retailers as supermarkets, shopping malls and specialized stores increased to varying degrees. Five of the eight major shopping malls boasted rising profits, realizing a total sales volume of 2.92 billion yuan, up by 9.4% over the same period last year. The sales volume of 144 of the 306 specialized stores increased, with the total volume reaching 51.57 billion yuan. The 12 chain supermarkets realized a total retail sales volume of 7.99 billion yuan.

Compared with in the first nine months, the consumption structure in October has improved significantly, with the proportion of food and clothing declining and that of such services as communication and entertainment rising. In the first ten months, the proportion of food in the consumption has dropped significantly, and the Engel's coefficient dropped by 5% over the first half of this year and 3% over the same period last year. The proportion of clothing stood at 6.6%, down by 5% over the first half of this year. In contrast, the proportion of services exceeded 30%, up by nearly 5% over the first half of this year.