U.S. markets close in 6 hours 29 minutes
  • S&P 500

    4,417.71
    +22.07 (+0.50%)
     
  • Dow 30

    34,499.86
    +241.54 (+0.71%)
     
  • Nasdaq

    14,962.29
    +65.44 (+0.44%)
     
  • Russell 2000

    2,218.56
    +32.38 (+1.48%)
     
  • Crude Oil

    72.25
    +0.02 (+0.03%)
     
  • Gold

    1,755.40
    -23.40 (-1.32%)
     
  • Silver

    22.58
    -0.32 (-1.41%)
     
  • EUR/USD

    1.1730
    +0.0034 (+0.29%)
     
  • 10-Yr Bond

    1.3650
    +0.0290 (+2.17%)
     
  • GBP/USD

    1.3713
    +0.0093 (+0.68%)
     
  • USD/JPY

    110.0880
    +0.3100 (+0.28%)
     
  • BTC-USD

    43,695.32
    +1,387.45 (+3.28%)
     
  • CMC Crypto 200

    1,094.16
    +53.68 (+5.16%)
     
  • FTSE 100

    7,078.51
    -4.86 (-0.07%)
     
  • Nikkei 225

    29,639.40
    -200.31 (-0.67%)
     

China’s Industrial Output Grows Slower Than Expected; Retail Sales Also Disappoint

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Investing.com - China’s industrial production grew slower than expected in October, while retail sales and fixed asset investment growth also declined.

Data from the statistic bureau showed that industrial output grew 4.7% in October, down from 5.8% in September and the expected 5.4%.

Retail sales grew by 7.2% in October from a year ago, compared with expectations of 7.8%. This was the lowest monthly growth rate since April.

Fixed asset investment grew by 5.2% in the first ten months of the year, compared to expectations of no change at 5.4%.

At a press conference in Beijing on Thursday, an NBS spokeswoman put China’s economic woes down to “the global economic growth slowdown” and “relatively greater external uncertainties.”

China’s Premier Li Keqiang acknowledged the challenges facing the economy, saying that the current external environment has become “more complex and severe.” Domestic economy is under “increasing downward pressure” and business operation of companies are becoming increasingly difficult.

The worse-than-expected set of data had little impact on Chinese stocks today, as the Shanghai Composite and the Shenzhen Composite gained 0.1% and 0.4% respectively in morning trade.

Related Articles

Asian stocks retreat as China's growth slowdown deepens

Warren lashes out at Goldman over Apple Card bias claims: Bloomberg

Icahn pushes for Xerox-HP merger: WSJ