"A-Share Focus" Consumer sector weakens, April retail sales data far below expectations
I'm LongbridgeAI, I can summarize articles.April retail sales data significantly missed expectations, with the consumer sector weakening and home goods leading the decline. DSL fell over 8%, SFY dropped 6%, and OPPEIN and Jason Furniture both fell 5.5%. In April, industrial added value grew by 4.1% year-on-year, while total retail sales only increased by 0.2%, marking the lowest level in nearly three and a half years. Analysts pointed out that the economic data was far weaker than expected; despite the strong performance of the high-tech sector, it failed to offset the overall economic weakness
According to a report from the Economic Information Daily on the 18th, the consumer sector in Shanghai and Shenzhen has softened, with weak domestic demand dragging down April's economic data, which fell short of expectations across the board. In the major consumer sector, home goods led the decline, with DSL (Shanghai: 603233) dropping over 8%, SFY (Shenzhen: 002572) falling 6%, OPPEIN (Shanghai: 603833) and Jason Furniture (Shanghai: 603816) decreasing by 5.5%, Jinjiang Hotels (Shanghai: 600754) softening by 3.6%, and Meikailong (Shanghai: 601828) and Chongqing Department Store Group (Shanghai: 600729) also declining.
In April, the industrial added value above designated size grew by 4.1% year-on-year, marking a new low in over two and a half years; the total retail sales of consumer goods in April grew by only 0.2% year-on-year, far below the market estimate of 2%, reaching the lowest level in nearly three and a half years. Analysts pointed out that the economic data for April was significantly weaker than market expectations. Although the high-tech sector maintained strong growth in production, exports, and investment, it was not enough to offset the broader economic weakness and increased the risk of economic slowdown. (ry)