China economy showing effects of trade war as growth slows again in November
- Retail sales growth slows to 8.1 per cent in November, lowest rate in 15 years
- Industrial production growth slows to 5.4 per cent in November, the lowest rate in 10 years
The Chinese economy weakened further in November, as the trade war with the United States continued to take a toll on growth, according to economic data released on Friday.
Retail sales growth decelerated sharply to 8.1 per cent from the 8.6 per cent rate in October, lower than the 8.8 per cent rate expected by analysts polled by Bloomberg. The November growth rate was the lowest since the 4.3 per cent gain posted in May 2003.
Industrial production grew 5.4 per cent in November compared to the previous year, well below the 5.9 per cent gain in October and expectation for a like-sized 5.9 per cent rise this month, according to the median forecast in a Bloomberg survey. The November growth rate was the lowest in 10 years, matching the 5.4 per cent gain in November 2008.