China industrial production, retail sales weaken as COVID crisis bites

Property sector battered as world's No. 2 economy struggles to regain footing

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People line up at a food stall in Wuhan after China eased COVID-19 curbs. The restrictions hurt the world's No. 2 economy, which is headed for its weakest annual growth in decades. © Reuters

CK TAN, Nikkei staff writer

SHANGHAI -- China's growth momentum slowed sharply in November as disruptions sparked by surging COVID infections took a toll on industrial production and retail sales, with the economy headed for its weakest annual performance in years.

The National Bureau of Statistics on Thursday said industrial production rose 2.2% in November from a year earlier, slowing from the 5% rise in October, while jittery consumer sentiment led to a 5.9% drop in retail sales -- the biggest monthly fall in six months when most of Shanghai's 25 million residents were in lockdown.

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