China’s industrial production, which measures output at factories, workshops and mines, rose 10.3 percent in October year-on-year, the government announced Saturday.
The gain announced by the National Bureau of Statistics (NBS) marks a marginal acceleration from September when the indicator showed an increase of 10.2 percent.
The NBS said that retail sales, a key indicator for consumer spending in the world’s second-largest economy, also rose, gaining 13.3 percent in October from the same month the year before, the same result as September.
Fixed asset investment, a measure of government spending on infrastructure, rose 20.1 percent during the first 10 months of this year from the same period in 2012, the NBS added. That indicator had increased by 20.2 percent during the first nine months of this year.
The data for October come as China’s ruling Communist Party on Saturday kicked off a closely watched four-day meeting focused on economic reform.
The gathering, known as the Third Plenum, has traditionally set the economic tone for a new government, and comes a year after China embarked on a once-a-decade leadership transition that was completed in March.
China’s economy — the world’s second largest and a key driver of regional and global growth — expanded 7.8 percent in the three months from July to September, the NBS announced last month, snapping a two-quarter slowdown.
Source : Channel News Asia | November 9, 2013