BEIJING (Reuters) - China’s fixed-asset investment rose 8.2 percent in January-September from a year earlier, in line with market expectations, as the government ramped up infrastructure spending to support the economy.
Analysts polled by Reuters had predicted investment growth in the period would pick up slightly from 8.1 percent in the first eight months of the year.
Private sector fixed-asset investment grew 2.5 percent in the first nine months, the National Bureau of Statistics said on Wednesday, quickening from a record low of 2.1 percent in the first eight months.
In September, fixed-asset investment grew 9 percent from a year earlier.
Industrial output rose 6.1 percent in September from a year earlier, missing forecasts of 6.4 percent and down from 6.3 percent in August.
Retail sales rose 10.7 percent in September on-year, beating expectations of 10.6 percent. Retail sales growth was 10.6 percent in August.
The statistics bureau said on Wednesday that China’s economy expanded by 6.7 percent in the third quarter year-on-year, in line with market expectations.
While fears of a hard landing have eased this year, recent data also have highlighted growing imbalances in the world’s second-largest economy, with growth increasingly dependent on government spending and ballooning debt as private investment tumbles to record lows.
Reporting by Kevin Yao; Editing by Kim Coghill
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