China Sept industrial output rises 4.5% y/y, retail sales beat forecasts

BEIJING : China’s industrial output in September grew 4.5 per cent from a year earlier, matching the pace in August, as policy support measures start to stabilise some parts of the world’s second-largest economy while deflationary pressures remain.

The National Bureau of Statistics (NBS) data released on Wednesday surpassed expectations for a 4.3 per cent increase in a Reuters poll of analysts.

Retail sales, a gauge of consumption, rose 5.5 per cent in September, accelerating from a 4.6 per cent increase in August. Analysts had expected retail sales to expand 4.9 per cent.

Fixed asset investment grew 3.1 per cent in the first nine months of 2023 from the same period a year earlier, against expectations for a 3.2 per cent rise. It grew 3.2 per cent in the January-August period.