China’s economic indicators posted mixed results in October as markets were gripped by uncertainty ahead of the late-month summit between the US and Chinese presidents.
Advertisement
National fixed-asset investment fell by 1.7 per cent, widening from the 0.5 per cent drop recorded in the first nine months and underperforming Wind’s forecast of a 0.71 per cent decrease.
Retail sales, a major gauge of consumer spending, grew by 2.9 per cent year on year in October, according to data released by the National Bureau of Statistics (NBS) on Friday. The figure surpassed the 2.73 per cent forecast from financial data provider Wind and marked a slight drop from September’s 3 per cent increase.
Industrial output rose by 4.9 per cent in October, slowing from September’s 6.5 per cent expansion and lower than the 5.52 per cent estimate by Wind.
More to follow…
Advertisement