French government bonds are under pressure after Moody’s downgraded its credit rating

China’s retail sales missed expectations in November, adding pressure on policymakers as they seek to restore confidence in the world’s second-largest economy.

Retail sales increased 3%, below analysts’ forecasts of 4.6% and the 4.8% increase in October. Industrial production in November increased 5.4%, slightly higher compared to expectations.

The data came days after China held its annual Central Economic Work Conference, in which party leaders called for “strong” efforts to boost consumption.

In the real estate sector, where the downturn has posed a major challenge for policymakers, new home prices continued to fall, although at a slower pace than in previous months. Real estate investment decreased 10.4% this year.