Retail sales in China have been hit by the country’s economic slowdown, while industrial output has also seen slower growth than expected. November saw the weakest rise in retail sales since 2003, with growth at 8.1% YoY, falling below expectations of an 8.8% rise. Meanwhile, factory output climbed to 5.9% YoY, missing analysts’ predictions of just 5.4%. The figures reflect a wider loss of momentum for the Chinese economy, which is reeling from government measures to curb shadow lending and an ongoing trade conflict with the US.
Retail sales in China have been hit by the country’s economic slowdown, while industrial output has also seen slower growth than expected. November saw the weakest rise in retail sales since 2003, with growth at 8.1% YoY, falling below expectations of an 8.8% rise. Meanwhile, factory output climbed to just 5.4% YoY, missing analysts’ predictions of 5.9%. The figures reflect a wider loss of momentum for the Chinese economy, which is reeling from government measures to curb shadow lending and an ongoing trade conflict with the US.