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China Sept industrial output rises 4.5% y/y, retail sales beat forecasts


© FILE PHOTO: Robotic arms assemble cars in the production line for Leapmotor’s electric vehicles at a factory in Jinhua, Zhejiang province, China, April 26, 2023. China Daily via REUTERS/File photo

BEIJING () – China’s industrial output in September grew 4.5% from a year earlier, matching the pace in August, as policy support measures start to stabilise some parts of the world’s second-largest economy while deflationary pressures remain.

The National Bureau of Statistics (NBS) data released on Wednesday surpassed expectations for a 4.3% increase in a poll of analysts.

Retail sales, a gauge of consumption, rose 5.5% in September, accelerating from a 4.6% increase in August. Analysts had expected retail sales to expand 4.9%.

Fixed asset investment grew 3.1% in the first nine months of 2023 from the same period a year earlier, against expectations for a 3.2% rise. It grew 3.2% in the January-August period.

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