Industrial production growth in China accelerated in November, heading serial signal for improving stability in the world’s second largest economy. Industrial production value added, which is a rough measure of economic growth, expanded by 6.2% yoy after October recorded an increase of 6.1%, according to data of the National Statistical Service of the country. The median forecast of economists was for an increase of 6.0%. The Chinese statistics bureau noted that economy remains stable overall, but the external, internal environment has many uncertainties.
On a monthly basis, industrial production expanded by 0.51%, after the previous month surged by 0.5%.
The investments in fixed assets outside rural areas increased by 8.3% on an annual basis for the period from January to November. The rate of increase is the same as in January-October and justifies expectations of economists surveyed. Investments in fixed assets is carefully monitored and are an indicator for construction activity.
Retail sales increased by 10.8% yoy in November and marked acceleration after a 10-percent increase in October. The value is higher than expectations for an increase of 10.3%.
The stats bureau adds that November property sales growth was at 7.9% yoy, saying this is the lowest since December of last year. Also the private investment accelerate to 3.1% from 2.9%.
The industrial production and retail sales both are beating on expectations. The data from China has been on the up in recent months, so probably not too much of a shock that there are some beats coming through.
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