China's retail sales increased 14.7 percent during the week-long Lunar New Year festival underpinned by jewelry sales, data from the Commerce Ministry revealed Saturday.
However, overall sales growth was slower than the 16.2 percent rise seen during the last year's festival season.
Sales totaled CNY 539 billion for February 9-15. Sales of jewelry surged 38.1 percent and food sales grew 9.8 percent.
According to official data, inflation slowed to 2 percent in January from a seven-month high on easing food inflation.
In the fourth quarter, the economy expanded 7.9 percent, ending seven-quarters of slowdown.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.