China September Industrial Output Growth Tops Expectations
Industrial output in China expanded at a faster pace in September after sharp decelerations in the previous two months, reflecting the resilience of the world's second-largest economy.
Value-added industrial output, a rough proxy for economic growth, rose by 6.6% in September from a year earlier, compared with a 6.0% increase in August, the National Bureau of Statistics said Thursday. The increase beat a median forecast of 6.5% growth by economists surveyed earlier by The Wall Street Journal.
The data came after figures showed China's economy slowed slightly in the third quarter, as Beijing's efforts to cut debt levels and curb property speculation weighed on growth.
On a sequential basis, industrial production increased 0.56% in September from the previous month, compared with a 0.46% gain in August.
Fixed-asset investment outside rural households--a key gauge of construction activity--climbed 7.5% in the first nine months from a year earlier, slowing from a 7.8% increase over the January-August period. Economists in the pol forecast a 7.8% gain.
Retail sales expanded 10.3% in September from a year earlier, accelerating from a 10.1% increase in August. The reading was higher than a median forecast for a 10.2% rise in September.
Retail sales rose 0.9% in September from the previous month, compared with compared with a 0.76% rise in August.
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(END) Dow Jones Newswires
October 18, 2017 22:31 ET (02:31 GMT)