China's factory output and retail sales decline sharply in November, signaling economic challenges post-zero-Covid restrictions, according to Reuters.
China's factory output growth fell to a 15-month low in November, while retail sales recorded their weakest performance since the end of zero-Covid restrictions, reported Reuters.
According to data from the National Bureau of Statistics, industrial output rose by 4.8 percent year on year, marking the slowest pace since August 2024 and a decrease from 4.9 percent in October.
Retail sales increased by only 1.3 percent, the weakest growth since December 2022 when pandemic curbs were lifted. This figure was significantly below October's 2.9 percent rise and forecasts predicting a 2.8 percent gain.
Additionally, prices of second-hand homes declined for the seventh consecutive month, with the rate of decline being the fastest in over a year. These figures highlight the mounting pressure on both consumption and the housing market.
In November, China also recorded a substantial trade surplus, raising concerns in Beijing regarding its impact on trading partners. In response, China's leadership has announced measures to restrain steel exports, a long-standing source of tension with foreign governments.
