中國經濟

China struggles to shrug off weak consumer spending and property woes

New home prices decline at steepest rate since 2015 while retail sales come in below forecasts

China’s economic data indicated further slowing momentum last month, with lingering caution in consumer spending adding to pressure from the country’s struggling property sector.

Retail sales, a crucial gauge of consumption, rose just 3.9 per cent year on year in November, well below economists’ forecasts of 4.7 per cent. A slight improvement in industrial activity, which grew 3.8 per cent, was overshadowed by a drop in investment across the real estate industry.

New home prices lost 0.3 per cent, their steepest fall since early 2015 and a third consecutive month of declines. Property investment rose 6 per cent in China over the year to the end of November, compared with a 7.2 per cent rise by the end of October.

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