China's Industrial Output Surges to Highest Level in Almost Two Years

China's industrial output grew by 6.6% in November, surpassing expectations and marking the largest expansion since February 2022. However, retail sales growth fell short of expectations, indicating a patchy recovery in the country's economy. Retail sales rose by 10.1% in November, but analysts had anticipated a 12.5% increase. China's urban unemployment rate remained at 5% in November. The post-Covid recovery in China has been hindered by a real estate crisis, debt risks, and high youth unemployment, prompting calls for increased stimulus measures.