China’s retail sales grew only 3% in November, falling short of the 4.6% forecast, reflecting continued weak consumer sentiment amidst a struggling real estate market. This slowdown follows a stronger October, aided by the Singles’ Day shopping festival. Real estate investments shrank by 10.4% this year, contributing to weak consumer confidence, while the urban unemployment rate remained at 5%. Despite signs of improvement, including a 5.4% rise in industrial production, deflationary pressures persist, with retail prices rising just 0.2%. Authorities are shifting focus to bolster consumption through economic stimulus as challenges persist ahead of potential trade tensions with the U.S.
