China’s Economic Slump Deepens in November

(MENAFN) China's economic contraction intensified throughout November, with manufacturing output, consumer spending, and capital expenditures all deteriorating amid mounting tariff conflict pressures with Washington, persistent weak household demand, and an ongoing property market collapse.

Manufacturing output expanded just 4.8% year-over-year during November, decelerating from the prior month while falling short of analyst projections, according to Monday data released by China's National Bureau of Statistics.

The production expansion represented the most anemic growth rate recorded since August 2024.

Consumer spending indicators revealed retail sales advancing only 1.3% in November, undershooting market forecasts and retreating from October's performance.

Capital Spending Contracts
Fixed-asset investment—encompassing infrastructure projects, property development, and industrial equipment—contracted 2.6% across the January-November timeframe, deepening from a 1.7% reduction through the initial ten-month period.

The real estate crisis, now entering its third consecutive year, maintained downward pressure on aggregate investment levels. Property sector expenditures plummeted 15.9% during the first eleven months, surpassing the 14.7% contraction measured through September.

Residential property transactions per square meter declined 7.8% over eleven months, outpacing the 6.8% decrease observed in the preceding ten-month span.

Private enterprise investments—widely regarded as a barometer of economic confidence—lost momentum at an accelerated pace, dropping 5.3% across eleven months compared to a 4.5% decline in the previous ten-month window.

China's metropolitan jobless rate held steady at 5.1% in November, unchanged from the preceding month.

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