Economic activity in China showed signs of a slowdown in October.
According to data released by China’s National Bureau of Statistics on Tuesday, economic activity indicators in China fell short of expectations in October, pointing to a slowdown.
According to the data, retail sales in China, which measures domestic demand, fell 0.5 percent in October from a year ago. This was the first drop since May. Economists had expected 0.7 percent growth in October.
Growth in industrial production also slowed in October. Output in October increased by 5 percent compared to the same period of the previous year. In September, the annual increase in production was 6.3 percent.
On the other hand, fixed asset investments increased by 5.8 percent in the January-October period compared to the same period of the previous year. The rate of increase in the first nine months was 5.9 percent.
While the survey-based urban unemployment rate in China was 5.5 percent in October, the unemployment rate for the 16-24 age group was 17.9 percent.
