China's retail sales growth sharply misses estimates in November, deepening consumption worries
CNBC••business
Key Points:
- China's retail sales growth in November rose 1.3% year-on-year, missing forecasts of 2.8%, while industrial production increased 4.8%, slightly below the expected 5%, indicating weaker-than-anticipated economic activity.
- Fixed-asset investment, including property, contracted 2.6% over January to November, marking the steepest decline since 2020, with real estate investment falling 15.9%, reflecting ongoing struggles in the property sector.
- Home prices dropped significantly in November, with new home prices in tier-1 cities falling 1.2% and resale prices declining 5.8%, signaling continued weakness in the housing market.
- Auto sales declined 8.1% in
