China’s economy saw signs of recovery in November as growth in consumption and industrial production both rebounded significantly, even as infrastructure and property investment continued to decelerate.
Retail sales, which include spending by governments, businesses and households, grew 8% year-on-year in November, faster than the 7.2% growth rate in the previous month and marking the highest level in five months, according to data (link in Chinese) released Monday by the National Bureau of Statistics (NBS). The reading outperformed the median estimate for a 7.8% increase in a Caixin survey of economists (link in Chinese).