The picture shows a development project under construction in Shanghai on November 4, 2024.
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BEIJING – China’s National Bureau of Statistics is scheduled to release October retail sales, industrial production and fixed asset investment data on Friday.
Analysts polled by Reuters said retail sales are expected to rise 3.8% year-on-year, following a 3.2% rise in September.
The survey shows that industrial production is expected to grow 5.6%, up from 5.4% last month.
The survey shows that fixed asset investment so far this year is expected to increase by 3.5% annually, up from 3.4% in September.
Since late September, Chinese authorities have stepped up stimulus efforts, driving stocks higher. The central bank has cut interest rates and extended existing housing support.
On the fiscal front, the Treasury announced last week Five-year 10 trillion yuan ($1.4 trillion) plan Addressing local government debt issues and hinting at the possibility of more fiscal support next year.
manufacturing survey Indicates activity has picked up last month, at the same time Exports surge At the fastest pace in more than a year.
However, imports fell as domestic demand remained weak. core consumer price index Excluding volatile food and energy prices, the annual increase was 0.2% in October, slightly better than the 0.1% increase in September.
transcend Trade-in program arrive Encourage car and appliance salesBeijing’s stimulus measures do not directly target consumers.
China’s Golden Week holiday in early October confirms consumer trends Consumers are more cautious in spendingHowever, many consultants said sales during the just-concluded Double Eleven shopping festival declined. Exceeded low expectations.
In the first three quarters, gross domestic product grew by 4.8%. The country has set a growth target of around 5% this year.
This is a development story. Please check back later for updates.
