Chinese Industrial Production, Retail Sales Surge Ahead In October

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A report released on Wednesday by the National Bureau of Statistics of China showed that industrial production increased 16.1% year-on-year in October, faster than the 13.9% rise in the previous month. Economists had expected output to rise 15.5%. This was the sixth straight month in which industrial output has accelerated on a yearly basis.

Month-on-month, industrial production was up 0.8% in October. In the January to October period, industrial output grew 9.4% compared to the same time a year ago.

The statistical bureau also announced that retail sales were up 16.2% annually to CNY 1.17 trillion in October, faster than the 15.5% growth in the preceding month and coming in above expectations for a 15.7% increase. In the first ten months of the year, retail sales climbed 15.3% from a year ago.

Meanwhile, urban investments in fixed assets for the period of January to October increased 33.1% compared to the corresponding period of the previous year, modestly below expectations for 33.5% growth.

A report released on Wednesday by the National Bureau of Statistics of China showed that industrial production increased 16.1% year-on-year in October, faster than the 13.9% rise in the previous month. Economists had expected output to rise 15.5%. This was the sixth straight month in which industrial output has accelerated on a yearly basis. (Market News Provided by RTTNews)