China October industrial output rises 5.3%, misses expectations

BEIJING: China's October industrial output grew 5.

3% from a year earlier, slowing from September's pace of 5.

4%, reflecting concern about confidence and demand woes confronting a sluggish economy and keeping alive calls for even more stimulus.

Data released on Friday by the National Bureau of Statistics missed expectations for a rise of 5.

6% in a Reuters poll of 43 analysts.

Retail sales, a gauge of consumption, grew 4.

8% in October, up from a 3.

2% increase in September.

Analysts had forecast retail sales to expand 3.

8%.

Fixed asset investment rose 3.

4% in the first 10 months of 2024 from the year-earlier period, compared with an expected rise of 3.

5%.

It grew 3.

4% in the period from January to September.

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