China’s economy showed signs of stabilizing and regaining growth momentum in November, adding to the good news for the nation’s outlook after a preliminary trade deal with the US was reached last week, reported Bloomberg.
Industrial output rose 6.2% from a year earlier, versus a median estimate of 5%. Retail sales expanded 8%, compared to a projected 7.6% increase.
However, Betty Wang, senior economist at Australia & New Zealand Banking Group says how this rebound in retail sales is probably due to one-off factors, such as the Singles Day promotion, and that improvement in industrial production might be because of quarter-end spikes. “The data look all good at first glance. But there are no evident signs that the sluggishness is turning around.”