BEIJING, Nov 15 — China’s industrial output grew 4.6 per cent in October year-on-year, speeding from 4.5 per cent in September, while retail sales growth beat expectations, an encouraging sign for an economy still showing significant pockets of weakness despite a flurry of support measures.
The data on output released on Wednesday by the National Bureau of Statistics (NBS) came above expectations for a 4.4 per cent increase in a Reuters poll of analysts. It also marked the strongest growth since April.
Retail sales, a gauge of consumption, rose 7.6 per cent in October, accelerating from a 5.5 per cent increase in September. Analysts had expected retail sales to grow 7.0 per cent.
Fixed asset investment expanded 2.9 per cent in the first 10 months of 2023 from the same period a year earlier, missing expectations for a 3.1 per cent rise. It grew 3.1 per cent in the January-September period.
— Reuter
