(NBS) China’s retail sector grew by 4.9% in October, higher than September’s expansion of 4.4% and better than the forecast increase of 3.5%.
Industrial output saw an increase of 3.5%, more than it jumped by 3.1% in September, surpassing the estimated rise of 3.0%. The industrial output was still at the second-lowest in the year.
Fixed asset investment increased by 6.1%, below the expected jump of 6.2%.
Pinpoint Asset Management strategist Zhiwei Zhang expects China’s growth to weaken for the remaining part of the year, citing tightened travel curbs and worsening property sector.
China’s growth is also seen to slow down, reflecting ongoing electricity shortages and production cuts.
Beijing is now predicted to ease policy markers to support growth. Other analysts say China’s central bank could move cautiously in loosening policy on account of growing fears of stagflation.
CSI 300 is down -0.12%, USDCNY is up -0.03%.
