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China’s Nov industrial output, retail sales up more than expected

by ChemOrbis Editorial Team -
  • 13/12/2016 (16:47)
According to data from the National Bureau of Statistics, China’s industrial production and retail sales increased in November, beating expectations. Production reportedly increased by 6.2 % on the month and slightly surpassed the economists’ expectations which called for stability from October growth levels (6.1%). Meanwhile, retail sales grew by 10.8% month on month and exceeded the estimates of 10.2% growth for November. The growth in retail sales was also the fastest since the 11.1% recorded in December 2015, the data showed.

Media reports revealed that the Chinese economy expanded by 6.7% in Q3 of 2016 and the country’s GDP was expected to reach 6.6% for 2016 on the back of the increasing domestic consumption, the growth in wages and public infrastructure investment.

The government’s growth target for 2016 was 6.5-7%, reports indicated.
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