China November data to show economy facing pressure – Reuters Poll
|According to the latest Reuters poll, the Chinese data dump due to be released in coming weeks is expected to show the world’s second-largest economy came under growing pressure in November on the back of the government crackdowns and financial risks.
Key Findings:
“Economists believe the government crackdown on polluting industries will lead to a slight moderation in China’s growth in the fourth quarter to around 6.7%, after a forecast-beating 6.9% in the first nine months of the year.
Growth in factory output is seen slowing to 6% on-year in November from October’s 6.2%, according to a Reuters poll of 23 economists.
But forecasts varied widely, with the pollution crackdown expected to create a lot of noise around industrial data. Some steel mills in the south, for example, are believed to have cranked up output to take market share as their counterparts in the north have had to curtail production.
Fixed-asset investment growth is also predicted to have eased to 7.2 percent in January-November, from a 7.3 percent rise in the first 10 months of the year.
Retail sales growth is expected to accelerate to 10.2 percent on-year from 10 percent the previous month, buoyed by the annual “Singles’ Day” shopping frenzy promoted by e-commerce giant Alibaba.
Industrial output, fixed asset investment and retail sales data are set to be published on Dec. 14.”
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