Consumption of Textile & Garment Grew Fast in Jan. & Feb.

According to the latest data from State Statistics Bureau on March 11th, the total retail sales of consumer goods accumulated to 2505.2 billion yuan in Jan. and Feb. Of which, the sales of textile and garment valued 110.5 billion yuan, up 23.3% year over year. The growth rate is 5.4 points faster than the general rate of consumer goods.

The major drive factor for the consumption of textile and garment was Spring festival. For Feb. alone, the total retail sales of consumer goods was 1233.4 billion yuan, up 22.1%. Of which, the sales of textile and garment were 55.3 billion yuan, up 58.4%. The growth rate is 36.3 points faster than the general rate of consumer goods.

On the other hand, the price of clothes went down 0.9% in Jan. & Feb. comparing to same period last year. While the general consumer price index grew 2.1%. For Feb., the clothes price went down 1.3%, comparing to the positive CPI growth as 2.7%.

Other data news, the ex-factory price of clothes grew 1.8% in Jan. and Feb., while the ex-factory price indices of industrial products was 4.9%. For Feb., the ex-factory price of clothes grew 2.6%, while the ex-factory price indices of industrial products was 5.4%. The prices of raw material for chemical industry grew 4.8% in Jan. and Feb. The general price index of raw material was 9.1%. The raw material cost pressure of clothes was smaller than other products. That is why the price growth of ex-factory price of clothes was aslow lower.