China’s Economic Slowdown Intensifies
Official figures released Monday by China’s National Bureau of Statistics indicated that industrial output expanded by 4.8% year-on-year in November, a slowdown from the previous month and below analysts’ expectations. This represents the weakest industrial growth since August 2024.
Consumer spending also remained subdued. Retail sales, a key measure of household consumption, rose by only 1.3% in November, falling short of market predictions and decreasing compared to October’s figures.
Investment, measured through fixed-asset spending on infrastructure, real estate, and machinery and equipment, fell by 2.6% over the January-November period. This decline represents an acceleration from the 1.7% drop observed in the first ten months of the year.
The ongoing real estate slump, now entering its third consecutive year, continued to weigh on overall investment. Spending on property dropped 15.9% during the first eleven months, a sharper decrease compared to the 14.7% fall recorded through September.
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