China’s factory activity and retail sales grew by the most in 10 months in October, as the world’s second biggest economy leaves COVID-19 behind
- Chinese industrial production grew by 6.9% in October, compared to the same month last year, marking the largest increase so far this year.
- Retail sales rose by 4.3% year-on-year in October, falling short of market expectations for a reading of 4.9%, but this was above September’s 3.3% gain and was the largest increase since last December.
- “Today’s latest economic data from China was also welcomed as further evidence that the Chinese economy is continuing its slow recovery from its February lockdown malaise,” Michael Hewson, chief market analyst at CMC Markets said.
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Factory activity in China grew by more than expected in October, while a separate release on Monday showed retail sales grew by the most in