China Sept industrial output rises 4.5%, retail sales beat forecasts

Robotic arms assemble cars in the production line for Leapmotor’s electric vehicles at a factory in Jinhua, Zhejiang province, China, April 26, 2023. China Daily via REUTERS/File photo

BEIJING  – China’s industrial output in September grew 4.5 percent from a year earlier, matching the pace in August, as policy support measures start to stabilize some parts of the world’s second-largest economy while deflationary pressures remain.

The National Bureau of Statistics (NBS) data released on Wednesday surpassed expectations for a 4.3-percent increase in a Reuters poll of analysts.

Retail sales, a gauge of consumption, rose 5.5 percent in September, accelerating from a 4.6-percent increase in August. Analysts had expected retail sales to expand 4.9 percent.

Fixed asset investment grew 3.1 percent in the first nine months of 2023 from the same period a year earlier, against expectations for a 3.2 percent rise. It grew 3.2 percent in the January-August period.