China Oct Retail Sale (YoY) 2.9% (exp 2.7%) & Industrial Production (YoY) 4.9% (exp 5.5%) | investingLive

Retail Sales (YoY) +2.9%, a beat

• expected +2.7%, prior +3.0%

Industrial Production (YoY) +4.9%, a decent sized miss

• expected +5.5%, prior +6.5%
• Industrial Production YTD (YoY)+6.1% (prior +6.2%)

Fixed Asset Investment (YTD) (YoY) -1.7%, worse than expected

• expected -0.8%, prior -0.5%

Unemployment Rate 5.1%, down from September

• expected 5.2%, prior 5.2%

Property investment continues to plummet, -14.7% YTD y/y

• prior -13.9%
• Jan–Oct new construction starts -19.8% y/y
• Jan–Oct property sales by floor area -6.8% y/y
• Jan–Oct funds raised by Chinese real estate developers -9.7% y/y

China’s National Bureau of Statistics (NBS):

• October’s economic operations generally stable, with improving new growth drivers
• Pressure to adjust domestic economic structure remains big, stabilisation faces some challenges