Manufacturing investment rose 2.7% and utilities spending, which includes electricity, fuel and water supplies, climbed 12.5%.<\/p>\n
Industrial output expanded 4.9% in October, slowing from a 6.5% the prior month and missing expectations for a 5.5% jump.<\/p>\n
China’s manufacturing activity contracted more than expected in October<\/a>, falling to the lowest level in six months, as a weeklong holiday that ran from Oct. 1 to Oct. 8 shuttered most factories across the country.<\/p>\n Retail sales climbed 2.9% in October from a year earlier. While beating the 2.8% growth forecast in a Reuters poll, the consumption gauge fell for a fifth straight month to its lowest level this year, according to LSEG data.<\/p>\n The survey-based urban unemployment rate ticked down to 5.1% last month from 5.2% in September.<\/p>\n The sharp drop in fixed-asset investment was largely dragged down by lackluster investment in the property sector and infrastructure, according to Zhiwei Zhang, president and chief economist at Pinpoint Asset Management.<\/p>\n Manufacturing investment has seen “modest and uneven growth,” with state-owned enterprises increasing spending on infrastructure, such as electricity, heat and gas supply, while foreign investment contracted sharply, Yuhan Zhang, principal economist of the Conference Board’s China Center, said in a note.<\/p>\n “We will continue to see policy-directed investment in infrastructure, advanced manufacturing, and industrial upgrading,” he added.<\/p>\n In a sign of persistently weak demand in the beleaguered housing sector, separate official data released on Friday showed China’s new home prices dipped 0.5% in October<\/a> from the previous month, the steepest month-on-month decline since October last year. Home prices fell 2.2% in October on an annual basis.<\/p>\n Consumer prices rose 0.2% from a year earlier<\/a> in October, the strongest inflation reading since January this year and the first positive growth since June, according to LSEG data.<\/p>\n The core CPI, which strips out food and energy, rose 1.2% from a year earlier<\/a>, the highest since February 2024, according to data provider Wind Information.<\/p>\n China’s exports in October unexpectedly contracted for the first time in nearly two years as tensions with Washington over trade escalated before a deal was reached at the month’s end.<\/p>\n U.S. President Donald Trump and Chinese leader Xi Jinping agreed last month to trim their tit-for-tat tariffs and suspend a raft of restrictive measures for one year.<\/p>\n Economists widely expect the\u00a0\u00a0as businesses’ front-loading activity tapers off, and global demand may not fully offset a deepening decline in U.S.-bound shipments, putting Beijing under greater pressure to stimulate domestic demand.<\/p>\n “I don’t expect stimulus to happen in the rest of this year,” said Zhang, noting the economy appears to remain on track to achieve its 5% growth target, although fiscal policy may turn more supportive at the start of next year.<\/p>\n China’s economic growth slowed to 4.8% in the third quarter<\/a>, following expansions of 5.2% in the second quarter<\/a> and 5.4% in the first quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"CHENGDU, CHINA – OCTOBER 18: People walk past the Louis Vuitton store at Taikoo Li, a high-end shopping…\n","protected":false},"author":2,"featured_media":569042,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[15193,21350,4959,51,3085,1700,2441,16,15],"class_list":{"0":"post-569041","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-asia-economy","9":"tag-breaking-news-asia","10":"tag-breaking-news-markets","11":"tag-business","12":"tag-business-news","13":"tag-economy","14":"tag-markets","15":"tag-uk","16":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115546086186899327","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/569041","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=569041"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/569041\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/569042"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=569041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=569041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=569041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Made](\"https:\/\/public.flourish.studio\/resources\/made_with_flourish.svg\")
<\/a><\/p>\n