China's key economic data for November 2024 … as far as retail sales as an indicator of domestic demand the data … well, sucks.
China Retail Sales in November +3.0% y/y
- expected +4.6%, previous +4.8%
Industrial production +5.4% y/y
- +5.4% expected, +5.3% previously
Fixed asset investment +3.3% y/y
- expected +3.5%, previous +3.4%
Unemployment rate 5.0%
- expected 5.0%, previously +5.0%
more to come
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Background on this, as previously posted.
In October 2024, China's main economic indicators presented a mixed picture:
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Retail Sales: An increase of 4.8% year on year, up from 3.2% in September, marking the fastest growth since February. This increase was due to consumer spending during the Golden Week holiday and the Singles Day shopping festival.
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Business representation: It grew 5.3% year-on-year, slightly below September's 5.4% and missing the expected 5.6% increase. This indicated a slight slowdown in manufacturing output.
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Fixed Asset Investment: It reached 3.4% in the January-October period compared to the same period in 2023, in line with the growth rate between January and September but slightly lower than the 3.5% expected. This suggests steady but limited investment in the infrastructure and property sectors.
These numbers highlighted the challenges facing China's economy, among them
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Earlier from China today:
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