China October Industrial Output Growth Tops Estimates at 10.3%

China’s industrial output rose 10.3 percent in October from a year earlier and retail sales gained 13.3 percent, the National Bureau of Statistics said on its website today.

Fixed-asset investment excluding rural households in the first 10 months of the year increased 20.1 percent, the Beijing-based agency said.

The advance in industrial production compared with the 10 percent median estimate in a Bloomberg News survey of 44 economists and a 10.2 percent increase in September. Retail sales (CNRSCYOY) compared with the median projection for a 13.4 percent advance and a 13.3 percent increase the previous month.

The median estimate for fixed-asset investment was a 20.2 percent increase after a 20.2 percent gain in the first nine months.

Data released earlier today showed consumer prices rose 3.2 percent in October from a year earlier, below the government’s 2013 target of 3.5 percent for a 10th month. Producer prices fell a more-than-estimated 1.5 percent, the 20th straight monthly decline.

--Nerys Avery. With assistance from Ailing Tan in Singapore. Editors: Nerys Avery, Scott Lanman

To contact Bloomberg News staff for this story: Nerys Avery at navery2@bloomberg.net

To contact the editor responsible for this story: Paul Panckhurst at ppanckhurst@bloomberg.net

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