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.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved