November 14, 2019 / 2:09 AM / 24 days ago

China Oct industrial output up 4.7% y/y; investment growth hits record low

BEIJING, Nov 14 (Reuters) - China’s industrial production growth slowed sharply in October, rising 4.7% year-on-year, official data showed on Thursday, missing forecasts of 5.4% and showing persistent pressure from weak global and domestic demand on the economy.

Retail sales rose 7.2% year-on-year in October, data from the National Bureau of Statistics showed on Thursday, compared with an expected 7.9%.

Fixed asset investment grew 5.2% from January-October, against an expected 5.4% forecast. The January-October growth was the lowest since Reuters record began in 1996.

Private sector fixed-asset investment, which accounts for 60% of the country’s total investment, grew 4.4% in January-October. (Reporting by Gabriel Crossley; Writing by Huizhong Wu; Editing by Sam Holmes)

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