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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: firstname.lastname@example.org
--MNI Beijing Bureau; +86 10 8532 5998; email: email@example.com