Steady growth for China's economy in Nov: NBS

A woman buys dairy products at a supermarket in Shijiazhuang, Hebei province, on Nov 16, 2021. [Photo/IC]

The Chinese economy maintained a steady recovery last month, with major macro indicators staying within a reasonable range, the National Bureau of Statistics said on Wednesday.

Industrial output, a key economic indicator, rose by 3.8 percent year-on-year in November, up from 3.5 percent in October, sending the two-year average growth to 5.4 percent in November, the NBS said.

Retail sales grew by 3.9 percent on a yearly basis last month, compared with 4.9 percent in October. On the two-year average basis, retail sales expanded by 4.4 percent in November, the bureau said.

The growth in fixed-asset investment (excluding rural households) came in at 5.2 percent year-on-year during the January-November period, compared with 6.1 percent in the first 10 months of the year. The two-year average growth in fixed-asset investment reached 3.9 percent in the January-November period.

The surveyed urban jobless rate rose to 5 percent in November from 4.9 percent in October. However, more than 12.07 million urban jobs were added in the first 11 months, surpassing the expected whole-year target.

Despite the overall stability, the NBS said the international environment is increasingly complex and there remain many constraints for the domestic economy. "We should combine cross-cyclical and counter-cyclical macro policy adjustments to stabilize the overall economy," the bureau said.