China retail sales slow as consumers hold back, while home prices fall

AP Business Writer

BANGKOK (AP) — Chinese retail sales slowed in November and housing prices fell, with demand still lackluster despite a flurry of stimulus measures over the past few months. The government reported Monday that retail sales rose 3% year-on-year, down from 4.8% in October, as s consumers refrained from splashing out on non-essentials like cosmetics, alcohol and jewelry. Factory output rose 5.4%, nearly flat compared with the previous month, while investment in fixed assets like factories slowed. Officials said the economy was stable but the “external environment” had grown more complicated, highlighting risks ahead as Beijing braces for potential tariff hikes once U.S. President-elect Donald Trump takes office.