Amid weak consumption, China’s industrial output growth accelerated by about 5.4% in November

China’s industrial output growth accelerated slightly in November, while retail sales fell disappointingly as policymakers prepared for more tariffs as Trump takes office again.

Data from the Chinese National Bureau of Statistics showed on Monday that Chinese industrial output grew slightly during the month of November by about 5.4 percent over the previous year, and it also grew at a faster pace than last October by about 5.3 percent.

Retail sales also witnessed a slight growth of 3.0 percent during the month of November, compared to an increase of about 4.8 percent during the month of October.

Chinese economy in 2025

China’s policymakers have begun voicing their plans for 2025 amid the realization that Trump’s return to the White House would put further pressure on China’s already ailing economy.

A Chinese central bank official explained that the bank has plans to further reduce the amount of cash that banks must hold, but credit numbers released last week showed that previous easing did not lead to enhanced borrowing.

Experts expected the Chinese economy to grow by about 4.5 percent over the next year, with the possibility that new US tariffs would reduce growth rates by about one percentage point.

At the same time, Moody’s credit rating agency raised its forecast for China’s GDP growth in 2025 to 4.2 percent, compared to 4 percent in 2024.

During the Central Economic Work Conference, senior Chinese leaders pledged to raise the budget deficit and make boosting consumption a top priority.