China's Retail Sales Grew 1.1% Year-on-Year in the First Nine Months, but Real Growth Is Near Zero

Official data from the Chinese Communist Party (CCP) shows a 1.1% nominal growth in total retail sales for the first nine months, but after adjusting for inflation, the real growth is only 0.2%. The growth is primarily driven by essential survival needs like grain and oil, while discretionary consumption has shrunk significantly.

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2026-11-08 00:09 · 一个狠人发布了新视频：史上最安靜的雙11！口徑年年換日均GMV其實跌8%！退貨率七成、三成商家虧損、汽車跌22%、住戶貸款淨減1萬億！社零漲1.1%是柴米油鹽平均出來的！中產可選消費實際每年跌4到5%！

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This event China's Retail Sales Grew 1.1% Year-on-Year in the First Nine Months, but Real Growth Is Near Zero 2026.09 · Reported

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Article · 2026-11-07 00:15 The Quietest Double 11 in History! Statistical Methods Changed Every Year, Daily GMV Actually Fell by 8%! 70% Return Rate, 30% of Merchants Operating at a Loss, Car Sales Down 22%, Household Loans Net Decreased by 1 Trillion! The 1.1% Rise in Retail Sales is Just an Average of Basic Necessities! Middle-Class Discretionary Spending Actually Drops by 4-5% Annually!

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