China Oct industrial output up 4.7% y/y; investment growth hits record low

China's industrial production growth slowed sharply in October, rising 4.7% year-on-year, official data showed on Thursday, missing forecasts of 5.4% and showing persistent pressure from weak global and domestic demand on the economy. Retail sales rose 7.2% year-on-year in October, data from the National Bureau of Statistics showed on Thursday, compared with an expected 7.9%.

Fixed asset investment grew 5.2% from January-October, against an expected 5.4% forecast. The January-October growth was the lowest since Reuters record began in 1996. Private sector fixed-asset investment, which accounts for 60% of the country's total investment, grew 4.4% in January-October.