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Conflicting statements from China's National Bureau of Statistics

China's National Bureau of Statistics (NBS) is out with varying reports that cast the domestic Chinese economy in two different lights at the same time following the Retail Sales miss for November (actual 8.1%, forecast 8.8%).

From headline NBS reporting, the Chinese stats bureau notes that China's economy remains "stable", and continues to make progress in November, with employment remaining better-than-expected, and despite 'global changes', the Chinese economy remains within a reasonable range.

From the other side of the same institution, NBS is reporting that global economic growth continues to decline, with an increasing number of uncertainties impacting the impetus for growth, and that weaker industrial production, and slowing retail growth shows that downward pressure on China's domestic economy continues to increase largely due to the US-China trade war.

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