November Consumption To Drive Growth

Consumption will drive economic growth in Q4 with economists predicting a 12.1% y/y increase in total retail sales for November, according to Yicai. The news outlet expects November industrial production to slow from the previous month, but grow 5% y/y due to low base effects. Economists predicted fixed-asset investment will grow 2.9%, unchanged from October. Overall, November’s data will show significant improvements from last year, but domestic demand remains insufficient and the foundation for economic recovery still needs consolidation, the economists noted. (Source: Yicai)