China retail sales unexpectedly slows as stimulus impact fades
Make us a preferred source
Make us a preferred source on Google
The news: China’s retail sales growth slowed in November, falling short of market expectations.
The numbers: Retail sales rose 3% from a year ago, China's National Bureau of Statistics said Monday. It marked the slowest pace in three months and fell below forecasts of 5% growth, according to a Bloomberg survey of economists.
Industrial output increased 5.4%, roughly in line with the previous month’s performance, as the country's manufacturing continues to outperform consumer spending.
Cosmetics led a decline in consumer goods sales, falling 26% from a year ago. Beverages, clothing, and tobacco and alcohol also saw a decrease in sales.
The context: The weakening in retail sales followed strong sales of home appliances and cars a month ago, which analysts attributed to the announcement of new government subsidies.
Last month's slowdown was partly seen as a result of an earlier Single’s Day shopping festival, which started in October rather than November this year.
The sources: Bloomberg, National Bureau of Statistics of China
