BEIJING - China’s economy lost more steam in November as factory output growth slowed and retail sales extended declines, both missing forecasts and clocking their worst readings since May, hobbled by surging Covid-19 infections and widespread virus curbs.
Industrial output rose 2.2 per cent in November from a year earlier, missing expectations for a 3.6 per cent gain in a Reuters poll and slowing significantly from the 5.0% growth seen in October, the National Bureau of Statistics data showed on Thursday. It marked the slowest growth since May when Shanghai was under lockdown, partly due to disruptions in key manufacturing hubs Guangzhou and Zhengzhou.
Property investment fell 9.8 per cent year-on-year in January-November, after declining 8.8 per cent in January-October, dragging on the sector’s downturn. Fixed asset investment expanded 5.3 per cent in the first 11 months of the year, versus expectations for a 5.6 per cent rise and growth of 5.8 per cent in January-October.
Nobody wants to manufacture in china.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Magic medicine': Canned peaches hoarded across China as Covid-19 controls easedA relatively unpopular sweetened and preserved fruit snack – canned yellow peach – is flying off the shelves across China as people prepare for a possible resurgence of Covid-19 amid the nationwide easing of pandemic restrictions. Over the past few days there has been an on-and-offline buying spree of the sweet, fruity snack in the belief that its high-sugar, vitamin...
Source: asiaonecom - 🏆 10. / 59 Read more »
Hit by COVID wave, companies in China strain to keep operations running normallyBEIJING : From e-commerce giant JD.com to cosmetics brand Sephora, companies in China are rushing to minimise the impact of surging COVID infections - doling out test kits, encouraging more work from home and, in some cases, procuring truckloads of medicine.After unprecedented protests against oft-draconi
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Hit by COVID-19 wave, companies in China strain to keep operations running normallyBEIJING: From e-commerce giant JD.com to cosmetics brand Sephora, companies in China are rushing to minimise the impact of surging COVID-19 infections - doling out test kits, encouraging more work from home and, in some cases, procuring truckloads of medicine. After unprecedented protests against oft-draco
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China delays economic policy meeting amid COVID surge - ET NowChina is delaying its economic policy meeting amid a surge in COVID cases, the ET Now news website said on Tuesday, citing unnamed sources.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China axes travel tracking app in latest easing of Covid-19 curbsSHANGHAI/HONG KONG – People in China celebrated the withdrawal on Tuesday (Dec 13) of a state-mandated app used to track whether they had travelled to Covid-stricken areas, in the latest loosening of some of the world's toughest anti-virus rules. As authorities deactivated the 'itinerary code' app at midnight on Monday, China's four telecoms firms said they would delete users' data...
Source: asiaonecom - 🏆 10. / 59 Read more »
China delays key economic meeting amid COVID surge - Bloomberg News:China is delaying a key economic meeting after COVID-19 infections surged in Beijing, according to a report by Bloomberg News on Tuesday, citing people familiar with the matter.The closed-door Central Economic Work Conference was initially expected to kick off later this week, when Chinese leaders, including
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »