China’s economy sustains steady recovery in October
Retail sales grew by 4.3 percent in October on a yearly basis, up from 3.3 percent in the previous month, the NBS said.
Industrial output rose by 6.9 percent year-on-year last month, the same as Sept.
Fixed-asset investment in the first 10 months rose by 1.8 percent, up from 0.8 percent in the Jan-Sept period.
The urban surveyed jobless rate dropped to 5.3 percent in Oct from 5.4 percent in Sept.
Despite the improvements, the NBS said “multiple challenges” remained for the Chinese economy, citing the sluggish world economic and trade recovery amid the global spread of the COVID-19.
Subscribe to our business newsletter
The Inquirer Foundation supports our healthcare frontliners and is still accepting cash donations to be deposited at Banco de Oro (BDO) current account #007960018860 or donate through PayMaya using this link .
Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.