China's Nov industrial output growth beats expectations

[BEIJING] China's industrial output growth accelerated much more than expected to 6.2 per cent in November from a year earlier, a five-month high, official data showed on Monday.

Analysts polled by Reuters had forecast industrial output would rise 5.0 per cent from a year earlier, quickening from 4.7 per cent in October.

Fixed asset investment grew 5.2 per cent from January-November, according to data published by the National Bureau of Statistics, in line with a 5.2 per cent rise in the first 10 months.

Analysts had forecast it would remain flat from the previous period.

Private sector fixed-asset investment, which accounts for 60 per cent of the country's total investment, grew 4.5 per cent in the first 11 months.

Retail sales rose 8.0 per cent year-on-year in November, compared with an expected 7.6 per cent, buoyed by the November Singles Day shopping extravaganza.

REUTERS