China factory output, retail sales beat expectations

Beijing | China’s October economic activity perked up as industrial output grew at a faster pace and retail sales growth beat expectations, an encouraging sign for an economy still showing significant pockets of weakness despite a flurry of support measures.

The world’s second-biggest economy has struggled to mount a strong post-COVID-19 recovery as a deepening property crisis, local government debt risks, slow global growth and geopolitical tensions have dented momentum.

Reuters