China’s retail sales fell short of expectations in November, adding to the pressure on policymakers in the world’s second-largest economy.
November retail sales increased by 3%, lower than the forecasts of 4.6% by analysts and the 4.8% rise seen in October. On the other hand, industrial production in November saw a 5.4% increase, slightly surpassing expectations.
This data follows China’s recent Central Economic Work Conference, during which party leaders emphasized the need for “vigorous” measures to stimulate consumption.
In the real estate sector, which has been a significant challenge for policymakers due to a slowdown, new home prices continued to decrease, although at a slower rate compared to previous months. Property investment has declined by 10.4% so far this year.
