Chinese industrial production and retail sales data for November were mixed, exacerbating concerns about slowing growth amid the recent trend of below-view indicators.
Industrial production rose 7.2 percent on year in November, below expectations for a 7.5 percent increase in a Reuters poll and down from October’s 7.7 percent rise. Meanwhile, retail sales rose 11.7 percent on year, above expectations for an 11.5 percent rise.
Fixed asset investment for the January-November period increased 15.8 percent, in line with expectations. Property investment increased 11.9 percent for the January-November period, slower than the 12.4 percent increased over the January-October period.
Friday’s figures follow weaker-than-expected imports, exports and inflation figures earlier this week, adding to speculation that the Chinese central bank will undertake additional easing measures. In late November, the People’s Bank of China cut interest rates for the first time in over two years to support the flagging economy as Beijing appears on course to miss the 7.5 percent growth target set earlier this year.
via CNBC
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Alfonso Esparza