Growth of China's Retail Sales and Industrial Output Slowed Last Month

Forex News

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%.