China’s factory output rises slower than expected in Nov
Meanwhile, according to data released by the National Bureau of Statistics, China’s retail sales beat estimates in November by rising 11.7% year over year when compared to the growth estimate of 11.5% reported in a survey conducted by Reuters. Fixed asset investment in China increased 15.8% in the first eleven months of this year.
The latest data showed that China’s economy may miss the government’s growth target of 7.5% this year following lower import and export as well as weaker industrial output figures. In late November, China’s central bank cut interest rates for the first time in more than two years to support the weakening economy.
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