MNI DATA IMPACT: China Ind Output, Consumption at 5-Month High

     BEIJING (MNI) - China's November industrial activities and consumption data

strengthened from October while investment stayed flat. 

     Positive factors will provide a good base and condition for China to fulfil

annual growth target of 6-6.5%, said Fu Linghui, a spokesman of the National

Bureau of Statistics, at a briefing on Monday.

     Growth in 2020 can be either a little higher or lower than 6% as long as

employment is sufficient, prices are stable and income grows, Fu said.

     Here are some of the data highlights:

     - Industrial output growth accelerated to 6.2% y/y in November from Oct's

4.7% y/y, more than projected 5.0% and the highest since July.

     - Retail sales rose 8% y/y, up from 7.2% in Oct, beating 7.6% forecast.

This was mainly driven by the Nov 11 e-commerce sales event which boosted Nov

online sales by 3.1% over Oct, contributing 0.9 percentage point to the headline

retail sales, Fu pointed out.

     - Fixed-asset Investment recorded 5.2% in Jan-Nov, unchanged from Jan-Oct

and in line with the 5.2% median forecast.

     - Property investment in Jan-Nov slowed to 10.2% y/y from 10.3% in Jan-Oct.

Infrastructure investment gain also decelerated to 4% y/y from 4.2%.

     - Registered urban unemployment rate remained at 5.1% in Nov. The rate in

31 big cities also stayed at 5.1%. It is expected that China will add about 13

million new jobs this year, for the seventh consecutive year, said Fu.

--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com

--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com

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