Life Buzz News

China growth: wary shoppers a problem, and Trump tariffs incoming


China growth: wary shoppers a problem, and Trump tariffs incoming

STORY: Chinese shoppers are giving policymakers in Beijing a headache.

Monday saw a mixed bag of data on the country's economy, and retail sales were one big disappointment.

They did rise - up 3.3% in November - but that was way down on the previous month and far below forecasts.

And that's despite big promotions by online stores, and government-subsidised trade-in programs for some sectors, including autos.

There was a slightly better outlook in other areas.

Industrial output rose 5.4% in November, just ahead of both the previous month and forecasts.

Even so, the mixed figures are likely to maintain pressure on officials for more stimulus.

All the more so with a second Donald Trump administration looming.

The U.S. president elect has vowed to impose steep new tariffs on imports from China, threatening a big blow for the country's exporters.

At a closely watched meeting last week, top policymakers in Beijing promised to raise the budget deficit, issue more debt, and make boosting consumption a top priority.

A years-long property crisis continues to pose a big challenge, with some 70% of household savings parked in real estate.

Monday's figures showed new home prices falling again, but at their slowest pace in 17 months.

That's after recent moves by officials to boost the sector with measures including cuts to mortgage rates.

But most market watchers predict a sustained recovery in real estate remains a long way off.

Previous articleNext article

POPULAR CATEGORY

corporate

12043

tech

11384

entertainment

14951

research

6973

misc

16032

wellness

11986

athletics

15745