China’s industrial production rose 5.5% in September — Anadolu Agency

In China, industrial production rose by 5.5% year-on-year in September, exceeding market expectations of 5.4%. The pace of growth accelerated compared with August, when the figure stood at 5.2%, Anadolu Agency reports, citing China’s National Bureau of Statistics.

Industrial dynamics

On a monthly basis, industrial production increased by 0.61%. From January to September, its growth amounted to 5.3% year-on-year.

Manufacturing output rose by 6% in September, while output in the mining sector increased by 1.3%. Output in the production and supply of electricity, heat, gas and water grew by 5.6%.

Production of computer, communications and other electronic equipment rose by 16.4%, while output of specialized machinery increased by 12.1%. The automotive industry increased production by 6.7%.

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Retail sales

Retail sales increased by 1.1% year-on-year in September after rising by 0.4% in August. The figure also exceeded the market forecast of 0.5%.

Retail sales totaled 4.24 trillion yuan, increasing by 0.35% compared with August. Excluding automobiles, sales grew by 3.9% year-on-year to 3.88 trillion yuan, or about $580 billion.

Over nine months, retail sales in China reached 37 trillion yuan, up 1.1% from the same period last year. Sales of goods increased by 1%, while revenue at catering establishments rose by 2.4%.