China Oct industrial output rises 3.5% y/y

China's industrial output grew 3.5% in October from the same period a year ago, accelerating from a 3.1% increase in September while retail sales growth picked up, official data showed on Monday. The industrial output growth beat expectations of a 3.0% year-on-year increase in a Reuters poll of analysts. Retail sales in October rose 4.9% compared to the same period last year.


Reuters | Beijing | Updated: 15-11-2021 07:35 IST | Created: 15-11-2021 07:35 IST
China Oct industrial output rises 3.5% y/y
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China's industrial output grew 3.5% in October from the same period a year ago, accelerating from a 3.1% increase in September while retail sales growth picked up, official data showed on Monday. The industrial output growth beat expectations of a 3.0% year-on-year increase in a Reuters poll of analysts.

Retail sales in October rose 4.9% compared to the same period last year. Analysts in the poll had expected them to grow 3.5% in October after rising 4.4% in September. Fixed asset investment rose 6.1% in the first 10 months from the same period a year earlier, compared with the 6.2% increase tipped by a Reuters poll and the 7.3% rise in January-September.

Momentum is faltering in the world's second-largest economy with gross domestic product growth hitting its slowest pace in a year in the third quarter.

Also Read: China Oct official services PMI falls to 52.4 vs 53.2 in Sep

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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