China shows steady progress in oct as consumption rises on stimulus
retail sales growth in eight months and indicating Beijing's latest round of stimulus has boosted some key sectors.
Retail sales increased 4.8% from a year earlier, the National Bureau of Statistics said Friday, up from September's gain of 3.2% and beating the median forecast of 3.8% by economists in a Bloomberg survey. It marked the best reading since February.
Industrial output rose 5.3% from a year earlier, slightly slower than the previous month and lower than a forecast growth of 5.6%.
«With the accelerated implementation of the existing policies and the introduction of a raft of incremental policies in October, the national economy showed stable growth trend with major indicators recovering notably and positive factors accumulated,» according to a statement from the NBS.
«However, we should be aware that the external environment is increasingly complicated and severe, effective demands are still weak at home and the foundation for continuous economic recovery needs to be strengthened,» the NBS added.
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