China spending data adds to worries

Chinese consumer spending grew at a slower-than-expected pace in November, data released Wednesday showed, with analysts warning that an uptick in coronavirus cases was dampening sentiment and adding to questions over a rebound in the world's second-largest economy.

China's economy bounced back quickly from the pandemic after authorities contained Covid-19 with strict border controls and targeted lockdowns, but the recovery has been losing steam this year.

Economists said a current nationwide increase in Chinese coronavirus cases, and resulting containment measures, appear to have led to cautious consumer behaviour just as a property market slump worsens.