China’s Gloomy Economic Data Paints ‘Dire’ Growth Picture
- Official Nov. data distorted by favorable comparison to 2022
- Analysts say government needs to do more to reverse trend
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China’s economic recovery remained beleaguered by weak demand and a lingering property crisis last month, putting more pressure on Beijing to roll out supportive policies to juice growth.
While industrial output and retail sales expanded in November, according to the official data released Friday, those numbers were distorted by favorable comparisons to a year ago when Covid lockdowns throttled activity.