China investment growth quickens
Private investment picks up but industrial output and retail sales growth were weaker than forecast
China’s fixed-asset investment rose 8.3% in January-October from the same period a year earlier, slightly higher than market expectations, while industrial output and retail sales growth were weaker than forecast.
Analysts had predicted investment growth of 8.2%, the same pace as in the first nine months of the year.
Growth of private investment quickened to 2.9% from 2.5% in January-September, which picked up from a record low of 2.1% in the first eight months. Private investment accounts for about 60% of overall investment in China.
Industrial output rose 6.1% in October from a year earlier, the National Bureau of Statistics said on Monday, below analysts’ estimates for a rise of 6.2%, following a 6.1% rise in September.
Retail sales rose 10% in October on-year, missing expectations. Analysts had forecast they would rise 10.7%, the same as the previous month.
China’s economy is stabilizing on the back of increased government spending and a property rebound, which are fueling a construction boom, but private investment remains weak.