China's factory output, retail sales growth worst in over a year
Reuters · Just In
Reuters
Just In
China's factory output and retail sales grew at their weakest pace in over a year in October, piling pressure on policymakers to revamp the $19 trillion export-driven economy as mounting supply and demand strains threaten to further curtail growth.
Breakdown
- China's factory output and retail sales grew at their weakest pace in over a year for October.
- Industrial output rose 4.9 percent year-on-year, missing forecasts and marking the slowest pace since August 2024. 12s
- Retail sales expanded 2.9 percent, the lowest growth since last August, and below expectations. 26s
- New home prices fell 0.5 percent month-on-month, the steepest decline since October last year. 1m 12s
- China's Communist Party pledged to increase household consumption's share of GDP and reinforce the industrial base in its five-year economic plan. 1m 38s