China’s retail sales miss expectations. The yuan is fixed below 7.20, and 10-year yields drop to 1.75%, marking the steepest drop since September 2008.

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  • China’s retail sales rose by 3% in November from a year ago, according to National Bureau of Statistics data released Monday, missing the forecast of 4.6% in a Reuters poll.
  • That marked a sharp slowdown from 4.8% growth in the previous month. Retail sales in October had recorded the quickest growth since February, helped by the annual Singles’ Day shopping festival that kicked off more than a week earlier than the event in 2023.
  • November industrial production rose by 5.4% from a year ago, above the expectations of 5.3% growth among economists polled by Reuters, which also compares with a climb of 5.3% in the prior month.
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https://www.cnbc.com/2024/12/16/chinas-november-retail-sales-miss-expectations-as-economic-woes-deepen.html