China’s retail sales weaken, miss forecasts in November

BEIJNG – China’s retail sales growth weakened last month, official data showed on Monday, missing forecasts as demand remains muted in the world’s number two economy.The country is battling sluggish domestic consumption, a persistent crisis in the property sector and soaring government debt — all of which threaten Beijing’s official growth target for this year.Retail sales expanded three percent year-on-year in November, the National Bureau of Statistics (NBS) said, slowing from a 4.8 percent rise in October that was its best reading in eight months.The figure fell significantly short of…