China’s National Bureau of Statistics is set to release key economic data for October, including retail sales, industrial production, and fixed-asset investment. Analysts are anticipating positive growth in all three areas compared to the previous month.
Retail sales are expected to show a year-on-year growth of 3.8%, up from 3.2% in September. Industrial production is forecasted to rise by 5.6%, slightly higher than the 5.4% growth seen in the prior month. Fixed-asset investment, reported on a year-to-date basis, is expected to post a 3.5% increase from the previous year, up from 3.4% in September.
Chinese authorities have been implementing stimulus measures since late September to boost the economy. The central bank has cut interest rates and extended support for the real estate sector. Additionally, the Ministry of Finance announced a 10 trillion yuan ($1.4 trillion) program to address local government debt issues, with hints of more fiscal support in the coming year.
Manufacturing surveys have indicated an uptick in activity, while exports have surged at their fastest pace in over a year. However, imports have declined due to soft domestic demand. The core consumer price index, which excludes volatile food and energy prices, rose by 0.2% in October, slightly higher than the 0.1% increase in September.
Despite a cautious consumer spending trend during China’s Golden Week holiday in early October, sales during the recent Singles Day shopping festival exceeded expectations. The country’s GDP grew by 4.8% in the first three quarters of the year, with a target of around 5% growth for the full year.
As this is a developing story, stay tuned for updates on China’s economic performance in October.
