Economists Note Consumption Recovery In November

Consumption may have accelerated and investment growth picked up in November, Securities Daily reported citing economists. November retail sales may increase significantly to double digits from October’s 7.6% y/y, due to the lower comparison base for the same period last year and improved spending expectation, said Ming Ming, chief economist at CITIC Securities. The growth rate of fixed-asset investment is still in the process of bottoming out in November, among which infrastructure investment is expected to maintain steady growth from the 5.9% y/y in Jan-Oct period amid sufficient funding support, while manufacturing investment may also remain flat from the previous 6.2% amid traditional industry upgrade and emerging sector expansion, economists said. The National Bureau of Statistics is set to release November data next Friday.