China's retail sales missed expectations in November, while industrial production beat, the National Bureau of Statistics said Wednesday.
Retail sales for November grew by 3.9% from a year ago, below the 4.6% year-on-year rise forecast by a Reuters poll.Fixed asset investment for the year through November grew by 5.2% from the same period a year ago, slower than the poll's forecast 5.4% gain.
China's economy has faced pressure from a slowdown in the property market as Beijing seeks to curb developers' reliance on debt. Real estate, along with related industries, accounts for about a quarter of China's gross domestic product, according to Moody's. Intermittent travel restrictions to control pockets of Covid cases have also limited tourist and business activity, while consumer spending has been subdued.
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