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China September industrial output rises 6.9% year-on-year; retail sales up 3.3% - Metro US

China September industrial output rises 6.9% year-on-year; retail sales up 3.3%

Woman holds a trolley outside a supermarket in Beijing

BEIJING (Reuters) – China’s industrial output in September rose 6.9% from a year earlier, data showed on Monday, expanding for the sixth straight month in a boost to an economy recovering from the coronavirus shock.

Analysts polled by Reuters had expected annual industrial output growth to have quickened to 5.8% in September from a 5.6% gain in August, as more businesses resumed production after measures to contain the spread of the virus were lifted.

China’s retail sales edged up 3.3% last month from a year earlier, beating analysts’ forecast for 1.8% growth compared with 0.5% growth in August.

Fixed asset investment increased 0.8% in the first nine months of the year from the same period in 2019, compared with a forecast 0.8% increase and a 0.3% decline in the first eight months of the year.

(Reporting by Colin Qian and Kevin Yao; Editing by Jacqueline Wong)

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