China retail sales, industrial data growth in October beat estimates
Retail sales rise 7.6% from year ago, industrial production up 4.6% in October, official data show
ANKARA
China on Wednesday announced better-than-forecast retail sales and industrial data for October.
Retail sales surged 7.6% year-on-year in October despite a week-long Golden Week holiday, according to National Bureau of Statistics data.
This was the 10th consecutive month of rising retail turnover after a 5.5% rise in September, beating market estimates of 7% annual growth.
China's industrial production climbed 4.6% from a year ago in October, after a 4.5% gain in the prior month.
Economists' expectation was for an annualized 4.4% increase for the month.
On a monthly basis, industrial output ticked up by 0.4% in October.
The statistical authority also said the urban unemployment rate came in at 5% in October, remaining stable compared to September.
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