CHINA-ECONOMY: AUTO SALES DROP
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Reuters quoted China's premier auto industry association as acknowledging on December 13, that China's automobile sales fell about 14 percent in November from a year earlier, marking the steepest such drop in nearly seven years in the world's largest auto market. The drop in sales to 2.55 million vehicles, a fifth straight decline in monthly numbers, comes against a backdrop of slowing economic growth and a crippling China-U.S. trade war. It was the steepest decline since January 2012, when the timing of the Lunar New Year holiday hurt auto sales.
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