Retail sales in China grow less than expected and production increases marginally.

Official data released by the National Bureau of Statistics in China on Monday morning showed that retail sales in China recorded a growth of 4.8% in November year-on-year, which was below expectations that anticipated a growth of 5.0%. It also fell short of the previous reading, which indicated a growth of 4.8% in Chinese retail sales during October. On the other hand, the data from the bureau indicated that industrial production growth in China increased in November, recording a growth of 5.4% year-on-year, which matched market expectations that projected the same growth rate. Industrial production in China had previously recorded a growth of 5.3% in October. Additionally, the National Bureau of Statistics reported that the unemployment rate in the People's Republic of China remained stable in November at 5.0%, as widely expected, which is the same reading recorded in October. At the same time, investment in fixed assets in China recorded a growth of 3.3% from the beginning of the year to the end of October, year-on-year. This was lower than market expectations that projected a growth rate of 3.5%. The previous reading had recorded an increase of 3.4%.