China Nov industrial production up, but retail sales miss forecasts
China's November industrial output expanded at the its fastest pace since February 2022, although retail sales figures were weaker than expected as the world’s second-largest economy continued to stumble towards recovery.
Industrial output grew by 6.6% in November on an annual basis, beating expectations for 5.6%. Retail sales were up 10.1% last month, although analysts had expected a 12.5% spike following a low base in 2022 when the country was in the grip of of stringent zero-Covid curbs in the last quarter of the year.
Fixed asset investment in urban areas cumulatively grew 2.9% in the first 11 months of the year, compared to expectations for 3% growth.
Reporting by Frank Prenesti for Sharecast.com