China’s domestic spending continues to grow in Nov

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Beijing

China’s retail sales grew in November, official data showed Tuesday, as consumers continued their return to spending with the country’s Covid-19 outbreak largely brought under control.
Retail sales in the world’s second-largest economy rose five percent on-year last month, the National Bureau of Statistics (NBS) said. The figure was in line with forecasts by analysts polled by Bloomberg and up from 4.3 percent growth last month on the back of a week-long national holiday in Oct.
NBS spokesman Fu Linghui said at a press briefing that China’s economy was seeing a “steady recovery” from the coronavirus pandemic, which first emerged in central China late last year. But he warned that “given the resurgence of the epidemic, the world economic recovery is facing headwinds with increasing instabilities and uncertainties”.—APP