Key Chinese economic data for November 2024 … in so far as retail sales is indicative of domestic demand the data … well, sucks.
more to come
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Background to this, as posted earlier.
In October 2024, China’s key economic indicators presented a mixed picture:
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Retail Sales: Increased by 4.8% year-on-year, up from 3.2% in September, marking the fastest growth since February. This surge was attributed to consumer spending during the Golden Week holiday and the Singles’ Day shopping festival.
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Industrial Production: Grew by 5.3% year-on-year, slightly below September’s 5.4% and missing the anticipated 5.6% rise. This indicated a modest slowdown in manufacturing output.
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Fixed Asset Investment: Rose by 3.4% in the January-October period compared to the same period in 2023, consistent with the growth rate from January to September but slightly below the expected 3.5%. This suggests steady but subdued investment in infrastructure and property sectors.
These figures highlighted the challenges facing China’s economy, which include
- a sluggish property market (still sluggish: China House Prices in November -5.7% y/y (prior -5.9%))
- and potential external pressures from international trade policies.
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Earlier from China today:
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This article was written by Eamonn Sheridan at www.forexlive.com.
