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China’s industrial output and retail sales for November misses targets

Industrial output data for November was up by 5.4%, while retail sales rose by 8.1% .

IG Analyst

Publication date : 2018-12-14T02:43:00+0000

China skyline

Source: Bloomberg

China’s industrial output and its retail sector missed targets for the month of November, data from the National Bureau of Statistics showed on Friday.

Industrial output data for November rose 5.4%, lower than the 5.9% growth economists in a Reuters poll expected. In October, industrial output expanded by 5.9%.

Retail sales misses expectations

Retail sales rose 8.1% last month, slowing down from the 8.6% growth in October. Analysts had expected an 8.8% rise.

Experts say consumers could be tightening their purse strings with expectations on a weaker economy this year, amid uncertainties such as the United States-China tariff war. Retail sales have been weak for the slowing economy this year, with auto sales particularly hurt from the weak retail growth.

Fixed asset investment growth up for the 11 months of 2018

Fixed asset investment growth expanded by 5.9% from January to November, higher than the 5.8% analysts had expected, and faster than the 5.7% pace of increase from January to October.

Private sector fixed asset investment growth, which accounts for about 60% of overall investment in China, gained 8.7% in January to November, compared with an 8.8% increase in the first 10 months of the year.

China has been handing out a slew of growth boosting measures for its economy through increased infrastructure spending and tax cuts.

Unemployment rate, meanwhile, fell to 4.8%, dipping 0.1% compared to the previous month.

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