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China Jan-Oct investment growth quickens, factory output, retail sales miss forecasts
[BEIJING] China's fixed-asset investment rose 8.3 per cent in January-October from the same period a year earlier, slightly higher than market expectations, while industrial output and retail sales growth were weaker than forecast.
Analysts polled by Reuters had predicted investment growth of 8.2 per cent, the same pace as in the first nine months of the year.
Growth of private investment quickened to 2.9 per cent from 2.5 per cent in January-September, which picked up from a record low of 2.1 per cent in the first eight months.
Private investment accounts for about 60 per cent of overall investment in China.
Industrial output rose 6.1 per cent in October from a year earlier, the National Bureau of Statistics said on Monday, below analysts' estimates for a rise of 6.2 per cent, following a 6.1 per cent rise in September.
Retail sales rose 10 per cent in October on-year, missing expectations.
Analysts had forecasted they would rise 10.7 per cent, the same as the prior month.
China's economy is stabilising on the back of increased government spending and a property rebound, which are fueling a construction boom, but private investment remains weak.