China November industrial output growth beats expectations - Metro US

China November industrial output growth beats expectations

BEIJING (Reuters) – China’s industrial output growth accelerated much more than expected to 6.2% in November from a year earlier, a five-month high, official data showed on Monday.

Analysts polled by Reuters had forecast industrial output would rise 5.0% from a year earlier, quickening from 4.7% in October.

Fixed asset investment grew 5.2% from January-November, according to data published by the National Bureau of Statistics, in line with a 5.2% rise in the first 10 months.

Analysts had forecast it would remain flat from the previous period.

Private sector fixed-asset investment, which accounts for 60% of the country’s total investment, grew 4.5% in the first 11 months.

Retail sales rose 8.0% year-on-year in November, compared with an expected 7.6%, buoyed by the November Singles Day shopping extravaganza.

(Reporting by Kevin Yao and Stella Qiu; Editing by Sam Holmes)

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