Growth of China's Retail Sales and Industrial Output Slowed Last Month
China has published disappointing data once again. The China’s National Bureau of Statistics reported, that retail sales grew 8.1% yoy in November, compared with the forecast of 8.8% gain. The growth was the weakest pace since 2003. Among retail items, sharply declining automotive sales dragged down the headline figure, while fast-moving consumables and home appliances rebounded slightly.
Meanwhile, growth in industrial output was 5.4% yoy, lower than the 5.9% projected increase. Factory output growth was the weakest in nearly three years.
It was also reported, that fixed-asset investment increased 5.9% from January to November, marginally higher than the previous expected 5.8%.
Today's data followed trade data released last weekend that showed that imports grew by only 3% in November, far below expectations of 14.5%.