China’s retail sales of consumer goods reached 4.2 trillion yuan in September, representing a 3.0% year-on-year increase, according to data released by the National Bureau of Statistics (NBS) on Monday.

The latest figures reflect a continued, albeit moderate, recovery in consumer spending as China works to stabilize economic growth amid ongoing structural challenges.

Excluding automobiles, retail sales rose 3.2% to 3.73 trillion yuan, suggesting broader consumption momentum despite a slowdown in vehicle sales.

In the first nine months of 2025, total retail sales amounted to 36.59 trillion yuan, an increase of 4.5% compared to the same period last year. Sales excluding automobiles climbed 4.9% to 32.99 trillion yuan.

The data underscores cautious consumer sentiment as household spending gradually rebounds from pandemic-era disruptions and a cooling property market. Analysts say targeted policy support and a focus on domestic demand may help sustain the recovery in the coming quarters.

Retail consumption is a key pillar of China's economic strategy as it pivots from investment-led growth to more sustainable, consumer-driven development.

(Note: 1 U.S. dollar equas 7.2 Chinese yuan.)