AsianFin -- Beijing's total retail sales of consumer goods experienced a signficiant year-over-year decline of 14.1% compared to a 0.7% increase in October. Retail sales by enterprises above the designated size fell sharply by 22.4%, following an 8.7% growth in the previous month.

In breakdown, sales of food dropped by 3.8% year-over-year, slightly steeper than October’s 2.7% decline; sales of clothing fell by 2.1%, a reversal from October’s 5.1% growth; sales of daily necessities plunged by 17.0%, compared to October's modest 2.5% increase; sales of energy declined by 23.7%, further widening from October’s 20.0% drop.

Similarly, total retail sales of consumer goods in Shanghai in November tumbled 13.5% year over year to 144.3 billion yuan in Novemer from 166.76 billion yuan in the same period of 2023.