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

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.