China’s economic expansion dialed back a notch as factory output, investment and retail sales all decelerated.
Industrial output rose 6.2 percent from a year earlier in October, versus a median projection of 6.3 percent and September’s 6.6 percent.
Retail sales expanded 10 percent from a year earlier, versus an estimated 10.5 percent and 10.3 percent the prior month.
Fixed-asset investment excluding rural households rose 7.3 percent in the first 10 months of the year over the same period in 2016, matching economists’ forecasts.
China has signaled increasing focus on the quality of economic expansion rather than the pace of it at the twice-a-decade Party Congress last month, which means further stimulus is unlikely. Stringent air pollution curbs have also hit factory production and a slowdown in credit may weigh on the economy in the fourth quarter. Still, the world’s second-largest economy is on track for its first full-year acceleration in seven years.
Source : Bloomberg