A sharp upturn in business and consumer sentiment from the second half of 2013 has been reflected in a pick-up in retail sales growth, after a long period of subdued spending. However, much of the focus of a consumer-led recovery has come from the housing market, and not necessarily in the more discretionary consumer categories that help retailers thrive.
The Economist Intelligence Unit remains cautious over the medium-term outlook for the sector. Employment growth and improving credit availability will support sales growth, but recent declines in the household savings rate will not continue indefinitely, and rapid house price inflation risks encouraging destabilising levels of borrowing.
Although sentiment has picked up sharply, over the forecast period many indebted households will need to continue to repair their balance sheets against a backdrop of public-sector austerity and squeezed real household incomes.

Consumer goods and retail report 2

Overview 2

Retail 3

Food and drink 6

Non-food products 10

Industry publishing schedule 14

中国科学技术信息研究所