China’s economy steadied in November, boosted by industrial production and retail sales, keeping growth on course to hit the government’s target for the year, though economists caution momentum is flagging. Value-added industrial output, a rough proxy for economic growth, edged up to 6.2% in November from a year earlier, compared with 6.1% in October. The reading slightly outpaced a median forecast of 6.0% growth by 14 economists surveyed by The Wall Street Journal. Investment in factories, buildings and other fixed assets in nonrural areas climbed 8.3% in the January-November period from a year earlier. Retail sales grew by a faster-than-expected 10.8% last month, accelerating from October’s 10.0% increase. A flood of money from the central bank and high government spending levels has boosted the economy, but the burst may have come at the expense of next year.
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