Three indicators on China's economy in October missed expectations, according to data released by China's National Bureau of Statistics on Tuesday.
Covid cases have soared in China's capital city of Beijing, where many communities have been recently locked down or under tighter health monitoring as the country maintains its zero-Covid policy.BEIJING — Three indicators on China's economy in October missed expectations and marked a slowdown from September, according to data released by China's National Bureau of Statistics on Tuesday.
Retail sales fell by 0.5% in October from a year ago, and industrial production grew by 5%, the data showed. Analysts polled by Reuters expected retail sales would slow to 1% year-on-year growth in October, and that industrial production would also slow to 5.2% growth. Fixed asset investment for the first 10 months of the year grew by 5.8%, a touch below expectations for maintaining the same pace as September, with a 5.9% increase year-on-year, according to the Reuters poll.
Data released ahead of Tuesday's announcement revealed a negative turn in trade and domestic demand last month.
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