China October data – retail sales fall y/y, industrial production up | Forexlive
Chinese economic activity data for October 2022. Both sales and output missed expectations.
October retail sales fell y/y. They last fell back in May when Shanghai was locked down. Rolling COVID restrictions and a collapsing property market were negative influences on this data for October. Yesterday I posted on moves from Chinese authorities to address COVID and property woes and boost the economy:
Other data released included:
Surveyed Jobless Rate 5.5% y/y
- expected 5.5%, prior 5.5%
Property Investment YTD -8.8% y/y
- expected -8.3%, prior -8.0%
Fixed Assets Ex-Rural +5.8% YTD y/y, also a miss
- expected 5.9%, prior prev 5.9%
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