China’s industrial production accelerated in November as the energy crisis eased, while consumption and investment slowed, reported the country’s National Bureau of Statistics (NBS).
Industry activity grew 3.8% year-on-year in November, compared to an expansion of 3.5% in October. The result was slightly higher than the 3.7% expected by economists interviewed by the The Wall Street Journal.
Retail sales, an important indicator for consumption, increased by 3.9% compared to the same month of the previous year, in November, cooling off against the 4.9% growth in October, and also below the 4.5% increase predicted by economists.
Consumption in the country was hampered by the recent spike in covid-19 cases. Persistent health concerns and strict government prevention measures have reduced consumer spending.
Investments in fixed assets had an annual expansion of 5.2% in the period from January to November, below the 6.1% registered in the first ten months. The reading came in line with economists’ expectations.
Reference: CNN Brasil
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