Illustrative photo (Photo: doanhnghiep.vn) Hanoi (VNA) - Consumer spending in November posted a significantyear-on-year increase as the Tet (Lunar New Year) holiday neared.
Accordingto the General Statistics Office (GSO), the retail sales of goods and servicesin November totalled more than 302.9 trillion VND (13.5 billion USD),representing a rise of 1.9 percent over the previous month and a 10.4 percentincrease over November 2015.
Retailsales of goods accounted for more than 76 percent of the total value.
VuManh Ha, GSO’s analyst on the domestic economy, said November witnessed strongpurchasing power as the shopping season for Tet holiday would arrive earlierthan normal. The holiday of this year will fall in late January 2017; usuallyit is in February.
Strongpurchasing was seen in wedding, house repair and beauty care products.
Totalretail value for the 11 months of this year touched 3.2 quadrillion VND, risingby 9.5 percent over the same period last year. If inflation was excluded, therate would be 7.6 percent, lower than the 8.3 percent rate for the same periodof 2015, due to the higher consumer price index (CPI).
Statisticsshowed that CPI grew at 4.5 percent in the 11 months of this year compared withonly 0.58 percent in the same period of 2015.
Purchasing power was strong in major cities suchas Hanoi, HCM City and Vung Tau, with increasing rates of more than 10 percent.-VNA
Accordingto the General Statistics Office (GSO), the retail sales of goods and servicesin November totalled more than 302.9 trillion VND (13.5 billion USD),representing a rise of 1.9 percent over the previous month and a 10.4 percentincrease over November 2015.
Retailsales of goods accounted for more than 76 percent of the total value.
VuManh Ha, GSO’s analyst on the domestic economy, said November witnessed strongpurchasing power as the shopping season for Tet holiday would arrive earlierthan normal. The holiday of this year will fall in late January 2017; usuallyit is in February.
Strongpurchasing was seen in wedding, house repair and beauty care products.
Totalretail value for the 11 months of this year touched 3.2 quadrillion VND, risingby 9.5 percent over the same period last year. If inflation was excluded, therate would be 7.6 percent, lower than the 8.3 percent rate for the same periodof 2015, due to the higher consumer price index (CPI).
Statisticsshowed that CPI grew at 4.5 percent in the 11 months of this year compared withonly 0.58 percent in the same period of 2015.
Purchasing power was strong in major cities suchas Hanoi, HCM City and Vung Tau, with increasing rates of more than 10 percent.-VNA
VNA
