BEIJING: – China’s industrial production, which measures output at factories, workshops and mines in the world’s second-largest economy, rose 7.2 percent year-on-year in November, the government said Friday.
Retail sales, a key indicator of consumer spending, increased 11.7 percent in the same month, the National Bureau of Statistics said, while fixed asset investment, a measure of government spending on infrastructure, expanded 15.8 percent on-year in the first 11 months.
The industrial output figure missed market expectations of 7.5 percent, according to Dow Jones Newswires, but retail sales came in just ahead of the forecast 11.6 percent, while fixed-asset investment matched predictions.
China’s economy expanded 7.3 percent in the third quarter, worse than the 7.5 percent in the previous three months and the slowest since 2009 at the height of the global financial crisis.
The data follow other figures suggesting a softening in Chinese growth. On Monday, official figures showed that November export growth slowed sharply while imports fell, resulting in a record monthly trade surplus.
The NBS said on Wednesday that China’s consumer price index (CPI), a key gauge of inflation, rose 1.4 percent, a five-year low, while the producer price index (PPI), a measure of costs for goods at the factory gate and a leading indicator of the trend for CPI — fell 2.7 percent year-on-year, the worst reading in 17 months.