China’s Mixed Economic Data Adds to Case for More Stimulus
- Retail sales climb 7.6% in October compared to a weak 2022
- Fixed-asset investment weakens as property sector remains drag
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China’s consumer spending and industrial activity expanded faster than expected in October, but a worsening property market fueled expectations the government will have to roll out more stimulus.
Retail sales climbed 7.6% in October from a year earlier, the National Bureau of Statistics said Wednesday, a better-than-forecast result aided in part by comparisons with a contraction during the same month in 2022. October also captured the week-long Golden Week holiday period, during which Chinese travel surged, but tourist spending disappointed.