China's retail sales up 8.5 pct in July

China's consumption continued recovery momentum in July as domestic demand firmed up, official data showed Monday.

The country's retail sales of consumer goods totaled 3.49 trillion yuan (about 540 billion U.S. dollars) in July, up 8.5 percent year on year, data from the National Bureau of Statistics (NBS) showed.

Retail sales in July were 7.2 percent higher from the level in July 2019. The two-year average growth was 3.6 percent.

In the Jan.-July period, retail sales surged 20.7 percent year on year, with the two-year average growth standing at 4.3 percent, according to the NBS. 

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