China's economy logs a lackluster performance in November as retail sales slow
China’s economy logged a mixed performance in November, the monthly government update said Monday, with retail sales slowing as consumers held back on spending on non-essentials like cosmetics, alcohol and clothing. “However, we must also see that the external environment is more complicated, domestic demand is insufficient, some enterprises are facing difficulties in production and operation, and the foundation for the sustained recovery of the economy still needs to be consolidated,” Fu Linghui, a spokesperson for the National Bureau of Statistics told reporters. The report came days after top leaders ended an annual planning meeting that produced no major new policy initiatives as Beijing braces for potential tariff hikes once U.S. President-elect Donald Trump takes office.