Metals Mixed on China’s Economic Outlook, Global Virus Surge
- China’s economic growth clouded by slumping property sector
- Covid-19 cases soar globally with record infections in Europe
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Base metals were mixed as investors tried to gauge China’s economic outlook amid slowing growth and the potential for stimulus next year, just as Covid-19 infections rise globally. Gold fell for a second straight day.
China’s economy expanded at a moderate pace in the final month of the year, supported by better business sentiment, easing factory inflation pressures and faster car sales. However the slumping property sector and slowing external demand are clouding the outlook for the world’s second-largest economy. To counter the slowdown, the world’s largest consumer of all commodities is likely to add stimulus to stabilize growth next year.