Property prices extend declines, investment slumps
Industrial output, retail sales grow buoyed by low base effect
Nov indicators show economy struggling for momentum
Analysts worry officials underestimating extent of slowdown

BEIJING, Dec 15 Reuters China39;s property sector worsened in November as negative home buyer sentiment and indebted developers drove down sales and investment, while broader retail sector activity missed forecasts, suggesting more support is needed to shore up demand.

The world39;s secondlargest economy has struggled to mount a strong postCOVID recovery as distress in the housing market, local government debt risks and weakening global demand slowed momentum.

While the Asian giant grew fasterthanexpected in the third quarter, domestic demand has remained tepid and manufacturers have had to discount prices to find buyers.

A flurry of policy support measures has proven only modestly beneficial, raising pressure on authorities to roll out more stimulus as analysts say different parts of the economy are running at different speeds and longstanding issues persist.

Transactions are typically depressed towards the end of the year, and the property sector in general does not want to take on more leverage and house prices are still too high compared to urban incomes, said Dan Wang, chief economist at Hang Seng Bank China.

People will just wait out this downward spiral, she added.

China39;s new home prices fell for the fifth straight month in…