MNI: China October Economic Data Softens Below Estimates

     BEIJING (MNI) - Data released Tuesday by the National Bureau of Statistics:

                 Industrial Output  Retail Sales  Fixed-asset Investment

------------------------------------------------------------------------

October                        6.2          10.0                     7.3

Forecast Median                6.3          10.4                     7.4

Previous                       6.6          10.3                     7.5

     All figures year-over-year % changes.

     INDUSTRIAL OUTPUT

     China industrial output rose 6.2% year-on-year in October,lower than the

6.6% year-on-year increase in September. The October result was below the MNI

survey median forecast for a 6.3% rise and was also the second lowest this year,

above only August's 6.0% gain.

     Output rose 0.50% month-on-month in October, slower than the gain of 0.55%

m/m in September.

     RETAIL SALES

     Retail sales rose 10.0% year-on-year in October, lower than the MNI survey

median forecast for a 10.4% gain and the 10.3% growth rate in September. It was

the lowest reading this year. 

     On a month-over-month basis, retail sales rose 0.74% in October, below the

gain of 0.89% in September.

     FIXED-ASSET INVESTMENT

     Fixed-asset investment rose 7.3% year-over-year in the first 10 months of

2017, slowing from the 7.5% gain posted in the January-to-September period. The

January-October figure was lower than the MNI survey median for a 7.4% increase

and the lowest since December 1999, when it was 6.3%. 

     On monthly basis, fixed-asset investment rose 0.52% in October, below the

gain of 0.55% in September.

     Property investment in the first 10 months rose 7.8% year-on-year, below

the 8.1% gain in the first three quarters and the lowest growth rate since the

January-December 2016 reading, when it was 6.9%. 

--MNI Beijing Bureau; +86 (10) 8532 5998; email: marissa.wang@marketnews.com

--MNI Beijing Bureau; +86 (10) 8532-5998; email: vince.morkri@marketnews.com

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