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MNI BRIEF: China's Oct Retail Sales Fall As Key Data Misses

MNI (Singapore)
MNI (Beijing)

Retail sales fell 0.5% amid Covid outbreaks, while industrial production and fixed asset investment fell short of expectations.

True

China's consumption unexpectedly fell in October amid renewed Covid-19 outbreaks, with industrial production hurt by pandemic control measures, data released by the National Bureau of Statistics on Tuesday showed.

Retail sales fell 0.5% in October to hit a five-month low, reversing the 2.5% growth seen in September and missing the median forecast for a 0.7% increase. Industrial production rose 5% y/y in October from September's 6.3%, missing the consensus forecast for a 5.2% rise. The surveyed urban unemployment rate stood at 5.5% in October, steady on the previous month.

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China's consumption unexpectedly fell in October amid renewed Covid-19 outbreaks, with industrial production hurt by pandemic control measures, data released by the National Bureau of Statistics on Tuesday showed.

Retail sales fell 0.5% in October to hit a five-month low, reversing the 2.5% growth seen in September and missing the median forecast for a 0.7% increase. Industrial production rose 5% y/y in October from September's 6.3%, missing the consensus forecast for a 5.2% rise. The surveyed urban unemployment rate stood at 5.5% in October, steady on the previous month.

Keep reading...Show less