China's National Bureau of Statistics reported a 3% increase in retail sales for November, a decline from October's 4.8%. The fall in consumer spending comes amid a backdrop of decreasing housing prices and a property crisis that has dampened consumer confidence. Despite government stimulus measures aimed at boosting spending on appliances and vehicles, discretionary spending on non-essentials remains weak. Analysts cite impending US tariffs under the incoming Trump administration as a significant threat to China's economic recovery, reinforcing the challenges for policymakers seeking a more consumption-driven economy.