China reports November fixed asset investment, industrial production

Fu Tian | China News Service | Visual China Group via Getty Images

Giant Panda statues at the China International Import Expo (CIIE) — held from Nov. 5 to Nov. 10, 2018  at the National Exhibition and Convention Center in Shanghai, China. 

China on Friday reported industrial output and retail sales growth for the month of November that missed expectations, data from the National Bureau of Statistics showed.

Industrial output in November grew 5.4 percent from a year ago, lower than the 5.9 percent analysts in a Reuters poll predicted. That figure was 5.9 percent in October.

Retail sales rose 8.1 percent in November, lower than the 8.8 percent the analysts expected. November retail sales growth was down from 8.6 percent in October.

Fixed asset investment rose 5.9 percent from January to November, slightly higher than the 5.8 percent the economists had forecast. FAI rose 5.7 percent from January to October.

Economic data from China is being closely watched amid a bitter trade dispute between the world’s two largest economies, with U.S. President Donald Trump taking issue with his country’s massive trade deficit against China.

Despite escalating trade tensions with the U.S., Chinese data show the economy has largely held up so far.

Many economists say the phenomenon is mostly due to exporters benefiting from increased orders before the tariffs hit, but the figures are likely to show stress in the months ahead if differences between the two economic superpowers are not resolved.

At the G-20 summit in Argentina recently, U.S. President Donald Trump agreed to not raise tariffs on $200 billion worth of Chinese imports from 10 percent to 25 percent in January as he had previously threatened, according to a statement from the White House. But, if the two countries fail to reach a deal at the end of 90 days, the threatened tariffs will be implemented, the statement said.

—CNBC’s Yen Nee Lee and Reuters contributed to this report.