China Industrial Output, Retail Sales Growth Eases
(RTTNews) - China industrial production and retail sales grew at slower rates in October and investment downturn deepened further as economic activity weakened towards the end of the year.
Industrial production logged an annual growth of 4.9 percent in October, the National Bureau of Statistics said Friday. This followed September's 6.5 percent expansion.
The annual growth came in weaker than economists' forecast of 5.5 percent and also hit the slowest since August 2024.
Retail sales growth eased marginally to 2.9 percent in October from 3.0 percent in September. Sales marked the slowest growth since last August. However, sales were expected to ease more sharply to 2.7 percent.
During January to October, fixed asset investment decreased 1.7 percent from the same period last year. The decline deepened from the 0.5 percent fall logged in January to September. Economists had anticipated a 0.8 percent drop for ten months to October.
At the same time, property investment plunged 14.7 percent from the same period last year.
ING economist Lynn Song said there is reduced urgency for new policy support. Song observed that the stronger-than-expected growth in the first three quarters of the year is likely keeping the economy on track to achieve its 2025 growth target without requiring much additional intervention.
Policymakers may opt to conserve ammunition for next year's growth targets, the economist said. "We still see room for further monetary easing next year, and fiscal support for consumption and strategic industries will likely continue," Song added.
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