Quoted By:
is the Candian Chink still here? Because Chinas economy is crashing and I want to rub it in his face hahahahaha
>China’s retail sales growth unexpectedly weakened in November despite signs of improvement in the housing market, highlighting the urgency for Beijing to further encourage residents to spend.
Retail sales rose 3% from a year ago, the slowest pace in three months and undershooting even the most bearish of forecasts. Industrial output increased 5.4%, keeping momentum as the manufacturing side of the economy continues to outperform consumer spending.
>“The data show that the recovery in domestic demand has remained sluggish, while the stabilization in industrial production was likely due to some order front-loading ahead of US tariffs and is not sustainable,” said Michelle Lam, Greater China economist at Societe Generale SA.
>The data released by the National Bureau of Statistics on Monday underscores the need for Beijing to reignite consumers’ willingness to spend, especially after the reelection of Donald Trump as US president. The threat of a new trade war may diminish exports’ role as a growth driver after contributing to nearly a quarter of economic expansion this year.
>The weakening in retail sales was surprising following strong sales of home appliances and cars a month ago thanks to government subsidies. While sales for those two categories remained strong in November, a number of discretionary goods recorded a slump. Cosmetics led the decline with a 26% plunge in sales from a year ago, while those of clothing, jewelry, beverages and tobacco and alcohol also decreased.
