- House Price Index fell 5.7% year-on-year in November after declining by 5.9% in October.
- Fixed asset investment rose 3.3% year-to-date in November, down from 3.4% in October.
- Industrial production increased by 5.4% year-on-year, up from 5.3% in October.
- Retail sales were up 3.0% year-on-year in November, down sharply from 4.8% in October.
- China’s unemployment remained steady at 5.0%.
While industrial production increased, fixed asset investment dipped, suggesting potential front-loading ahead of US tariffs on Chinese goods. However, the marked drop in retail sales was more concerning, reinforcing the need for stimulus measures to drive consumption and domestic demand.
The pullback in retail sales aligned with recent inflation figures, reflecting a pickup in deflationary pressures. Consumer prices declined by 0.6% month-on-month in November after falling 0.3% in October.