China's November retail sales miss expectations as real estate slump deepens

China’s retail sales rose by 3% in November, falling short of the forecasted 4.6%, with a significant drop from the previous month’s 4.8% growth. Real estate investment continued to decline, shrinking by 10.4% year-on-year, while industrial production in November exceeded expectations at 5.4% growth. The economy faces challenges from a property downturn, local government debt risks, and high unemployment rates, with the urban unemployment rate holding steady at 5% in November.

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