China's retail sales up 8.6% in October

China's retail sales of consumer goods grew 8.6 percent year on year to 3.55 trillion yuan (US$511 billion) in October, data showed Wednesday.

The growth slowed in comparison with the 9.2-percent rise in September, according to the National Bureau of Statistics.

In the first 10 months, retail sales grew 9.2 percent to reach 30.98 trillion yuan, NBS data showed.

The slower growth of retail sales is partly due to the delayed consumption demand fueled for the Singles' Day sales festival on November 11, according to the NBS.

Meanwhile, retail sales in rural areas increased 9.7 percent year on year in October, continuing to outpace growth in urban regions, where sales rose 8.4 percent, according to the NBS.

In breakdown, the catering sector reported an 8.8-percent year-on-year rise in revenue in October, while sales of other consumer products increased by 8.5 percent.

Online spending remained robust, with sales surging 25.5 percent to reach 7 trillion yuan in the first 10 months, NBS data showed.