China Revealed Data that Reflects the Slowdown in its Economy

Today, Wednesday, China revealed data that reflects the slowdown in its economy during the month of November, affected by the outbreak of the Corona virus, weak demand and disruption of the supply chain.
This came after the economy grew at an unexpectedly slow annual rate of 4.9% between July and September, down from 7.9% in April and June.

In November, retail sales grew 3.9% from the same period a year earlier, down from 4% the previous month, and industrial production rebounded slightly to 3.8%, compared with 3.5% in October, the Associated Press reported.

Inflationary pressures are complicating efforts to boost growth, while at the same time stricter limits on borrowing by property developers are hampering construction and sales in the all-important real estate sector.

National Bureau of Statistics spokesman Fu Lingwei told reporters that the Beijing Winter Olympics from February 4-20 will likely have “generally limited impact”.

He justified this by saying that the epidemic restrictions limit travel and other activities, adding that the global environment has become “more complex and dangerous”, but China still expects to achieve its economic goals for this year.

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China Revealed Data that Reflects the Slowdown in its Economy - /10

Summary

Today, Wednesday, China revealed data that reflects the slowdown in its economy during the month of November, affected by the outbreak of the Corona virus, weak demand and disruption of the supply chain.

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