Business Department: Consumer spending is picking up May Monthly report on retail industry

Retail growth has picked up markedly after 0 of the quotas have eliminated investment goods and cars.　　In April, the total retail sales of consumer goods increased by 14.7%, excluding the retail price index-1.9%, real growth of 16.95%, the real increase of 0.53%; The chain of household electrical appliances industry related product pick-up situation established. The retail sales of building materials and furniture with a quota of above 0 have continued to grow at a high rate of 63% and 38% respectively. Household appliance retail sales grew by 7.18%, the growth rate slightly increased, deducting the real growth of the price index by 14.26%, and lifting 2.47%.　　In late April, Gome and suning sales had an explosive growth, 51 period sales good. Supermarket related products: real demand rise. Food consumption continued to go down, but excluding the factors of price impact, the rebound situation is obvious.　　The nominal and real growth rates of daily necessities have rebounded. Department stores related commodities: clothing and gold and silver jewelry bottomed rebound. In April, the retail sales of gold and silver jewellery ended in a 9-month rapid decline, with a 20.6% increase, a 8.7% increase in real-world growth of 38.3% and a 10.1% per cent quarter-on-quarter increase, which was linked to active economic activity, a rebound in gold and silver jewellery prices and a rise in residents ' expectations of inflation.　　April Apparel sales growth in nominal and real growth rates are 20% high, the growth rate of 6% or so. Visible, consumption growth in the past six months after a sharp decline, April began to appear an upward inflection point. From the big categories, the first to start is suppressed for a long time in the car and real estate, as well as related building materials decoration materials, furniture consumption, and then home appliances, gold and silver jewelry firm rebound, in the peak season of May, the increase is still good. Low elasticity of food, its consumption is still low, but the actual consumption has warmed up.　　Clothing consumption in the April off-season consumption rebound, continuing to be seen.　　Consumer warming trend is obvious, starting in May, the consumption base is small, the year before the low after the high situation determined. Consumer prices and retail prices, on the other hand, have been low for April and the second half will be positive, with some inflation expected next year.　　This is conducive to improve the retail listed company's same-store growth rate and gross margin level, the most obvious is the home appliance chain and supermarkets. A new round of asset bubbles is brewing. This round of bubbles, the most beneficial is the elasticity of the largest appliance chain.　　We will suning 09 with the store growth rate from -8%--7%, cautiously raised to -4%--3%, do not rule out the possibility of further improvement. Although the supermarket's elasticity is small, but based on the inflation expectation, we are bullish on the supermarket industry. The first half of the supermarket industry is not optimistic, with the rise in prices and lower base, the estimated annual growth in the same shop around 2%, the level of the gross interest rate will be lower in the first quarter of the base to uplift. At the same time, 09 staff rates will be stable or a slight decline. We are optimistic about the most valuable advantages and the most development potentialThe power of Wuhan Hundred. Department stores will benefit from a new round of asset bubbles, but lagging behind. And the degree of benefit depends on the size and duration of the bubble itself. For now, some cities have not been completely free of promotional traps. At the same time, the commercial supply of some cities is almost limitless, exacerbating competition. The suggestion pays attention to the market competition order good regional retailer, such as wide friend, Guang Bai, Hefei department store, Hubei Wu Shang, Xinhua department store and so on.