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China’s retail sales and factory output grew more than expected in October, the National Bureau of Statistics (NBS) reported on Wednesday, but investment in fixed assets came in below forecasts.
Retail sales surged 7.6% last month compared to the same period last year. That’s higher than the 7% growth estimated in a Reuters poll of analysts.
Industrial output grew 4.6% in October, higher than the 4.4% rise forecast by the Reuters poll.
Investment in assets such as roads and airports did not manage to beat expectations. Fixed asset investment expanded by 2.9% in the first 10 months of the year, compared to the same period in 2022. That was lower than the 3.1% forecast.
This is a developing story and will be updated.