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MNI BRIEF: China Nov Sales, Investment Slower Than Expected

MNI (Singapore)

China's consumption and investment slowed greater than expected despite a key online shopping festival in November, with only industrial production picking up as expected, according to data by the National Bureau of Statistics on Wednesday.

Industrial production rebounded slightly for the second month to 3.8% y/y in November from October's 3.5%, in line with the prediction. Retail sales rose 3.9% y/y in November, slowing from October's 4.9%, underperforming the 4.7% forecast.

Fixed-asset investment rose 5.2% y/y in January-November period to the lowest point within this year, after 6.1% in January-October, also weaker than the 5.4% forecast. Manufacturing investment rose 13.7% in this period, compared with 14.2% y/y in January-October. Infrastructure and property investment growth both slowed to 0.5% and 6.0% y/y from the previous 1.0% and 7.2%, respectively.

The surveyed urban unemployment rate was 5.0% in November, up 0.1 percentage points from the previous month.

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