Retail sales growth hits two-year low

According to the figures, retail sales volume increased by 7.7% year over year, marking its slowest growth rate since July 2024. The slowdown from August's annual growth rate of 10.1% highlighted weakening momentum in the retail sector. On a monthly basis, retail sales volume increased by 0.1%.

In September, total trade sales volume declined by 5.6% year over year, while sales volume in the trade and repair of motor vehicles and motorcycles fell by 9.6%, and wholesale trade decreased by 10.9%. On a monthly basis, total trade sales volume contracted by 0.7%, with wholesale trade falling by 1.3%. Meanwhile, motor vehicle trade and repair recorded a 0.2% increase. The data indicated that retail sales continued to grow, although weakness in overall trade activity became more pronounced.