investment of China October saw the fastest decline since the pandemic COVID-19 (new coronavirus infection).
According to data from the National Statistics Office, fixed assets It fell 1.7% year-on-year in the year to October, the lowest level since June 2020.. The performance was worse than the expected 0.8% decline and also lower than the 0.5% decline observed in September.
The new price is housing The stock fell 0.45% month-on-month in October, the largest decline since October last year, and exceeded the 0.4% decline recorded in September.
The industrial production The 4.9% year-on-year growth was lower than the 5.5% expected by analysts polled by Reuters, and also below the 6.5% growth recorded in September. Retail sales rose 2.9% in October, slightly above Reuters’ forecast of 2.8% but below the 3% rate the previous month. Both indicators showed their worst performance since August 2024.
Lin Song, chief economist for Greater China at ING, told the Financial Times that the economy should reach the government’s growth target of around 5% this year. However, “supportive policies will be needed to achieve long-term goals.”
Fu Linghui, spokesperson for the National Bureau of Statistics, told the Financial Times that although the overall economy is functioning in a “relatively stable” manner and the development of new industries is progressing, “there is great pressure to adjust the domestic economic structure, creating some challenges in maintaining stable economic operation.”
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