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China's retail sales grow by 3.9% in November — slower than expected
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cnbc.comBEIJING — China's retail sales missed expectations in November, while industrial production beat, the National Bureau of Statistics said Wednesday.
Retail sales for November grew by 3.9% from a year ago, below the 4.6% year-on-year rise forecast by a Reuters poll.
Industrial production grew by 3.8% in November from a year ago, topping the poll's 3.6% expectation.
Fixed asset investment for the year through November grew by 5.2% from the same period a year ago, slower than the poll's forecast 5.4% gain.
China's economy has faced pressure from a slowdown in the property market as Beijing seeks to curb developers' reliance on debt. Real estate, along with related industries, accounts for about a quarter of China's gross domestic product,
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