China investment growth slows, industrial output misses expectations

by Dramelin 1:00 AM 0 comments

China`s fixed-asset investment growth slowed to 7.
3 percent in the January-October period, and came in slightly below market expectations.
Analysts polled by Reuters had predicted investment growth of 7.
Private sector fixed-asset investment rose 5.
8 percent in January-October, down from the first nine months of the year.
Industrial output grew 6.
2 percent in October from a year earlier, the National Bureau of Statistics said on Tuesday, just under analysts` estimates for a rise of 6.
3 percent after increasing 6.
6 percent in September.
Retail sales climbed 10.
0 percent in October on-year, versus a forecast rise of 10.
4 percent, after September`s 10.
The government is targeting annual economic growth of around 6.
5 percent this year, down from the 6.
7 percent pace clocked in 2016.
China`s economy has surprised financial markets with robust growth of nearly 6.
9 percent in the first nine months of this year, underpinned by a recovery in its manufacturing and industrial sectors thanks to a government-led infrastructure spending spree, a resilient property market and unexpected strength in exports.
But property and construction activity, two of the economy`s main growth drivers, are starting to slow due to higher borrowing costs and government measures to cool a heated housing market and curb industrial pollution.