Spinee wrote a post · Dec 15, 2022 01:27

China’s retail sales shrink far more than expected

CHINA NOV RETAIL SALES Y/Y: -5.9% V -4.0%E [largest decline since May]; YTD Y/Y: -0.1% V +0.4%E

CHINA NOV INDUSTRIAL PRODUCTION Y/Y: 2.2% V 3.5%E [slowest pace since May]; YTD Y/Y: 3.8% V 4.0%E

China National Stats Bureau (NBS): Reiterates foundation for economic recovery still not solid, Economy operated within reasonable range during Nov

CHINA NOV YTD FIXED URBAN ASSETS Y/Y: 5.3% V 5.6%E [slowest pace since Dec 2021]

Several “robot arms” work on the automated assembly line of final wheel hub at a production workshop

As China moves toward reopening, analysts expect a surge in infections will initially weigh on growth before the economy can rebound.

The country also faces headwinds from declining global demand.

In November, exports fell by a disappointing 8.7% from a year ago. Imports dropped by 10.6% as domestic demand remained sluggish.

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whqqq : Knowing this was coming may have contributed to Beijing's swifter-than-expected move away from Zero Covid. An alarming decline to say the least.

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