December 14, 2018 / 2:04 AM / 7 months ago

China's Nov industrial output, retail sales growth misses expectations

BEIJING, Dec 14 (Reuters) - China’s November industrial output grew 5.4 percent from a year earlier and retail sales increased 8.1 percent, missing forecasts, while fixed-asset investment rose slightly more than expected in the first 11 months, official data showed on Friday.

Analysts polled by Reuters had predicted industrial output growth would hold steady at 5.9 percent as in October, data released by the National Bureau of Statistics showed.

Retail sales were expected to have risen 8.8 percent in November, quickening a little from 8.6 percent in October.

In January-November, fixed-asset investment grew 5.9 percent, compared with expectations for a 5.8 percent increase, and faster than the 5.7 percent pace in January-October.

Private-sector fixed-asset investment rose 8.7 percent in January-November, compared with an increase of 8.8 percent in the first 10 months.

Private investment accounts for about 60 percent of overall investment in China.

With U.S. trade duties threatening to ratchet up pressure on China’s already slowing economy, Beijing has rolled out a string of growth-boosting measures from ramping up infrastructure spending to cutting taxes and fees.

But analysts predict the world’s second-biggest economy, hobbled by a myriad of factors from high household debt to cooling credit growth to a softening property market, will slow further over the next year. (Reporting by Kevin Yao Writing by Ryan Woo and Lusha Zhang Editing by Shri Navaratnam)

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