China’s industrial output rose less than estimated in November while retail sales unexpectedly accelerated, giving a mixed picture of growth as leaders gather in Beijing to set economic policies for the coming year.
Factory production rose 10 percent from a year earlier, the National Bureau of Statistics said in Beijing today, compared with analysts’ median projection of 10.1 percent in a Bloomberg survey.Retail sales advanced 13.7 percent, while fixed-asset investment excluding rural households showed a slowdown.
The latest data failed to match the strength of export numbers released this week, muddying the outlook for the world’s second-biggest economy just as Chinese leaders meet to discuss targets including next year’s growth goal. Central bank data on loans, credit and money supply due as soon as today will be the final key readings for November.
“A modest slowdown in investment and industrial production may lead to a little softening of growth in the coming months,” said Gao Shanwen, Beijing-based chief economist with Essence Securities, a Chinese government-backed brokerage. At the same time, the indicators show China’s economy is generally stable, he said.