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China’s Sept industrial output rises 3.1% y/y, misses forecasts By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO – A face mask is worn by a worker at a bicycle steel rim production line in Hangzhou. This was taken during the new coronavirus epidemic, which struck China on March 2, 2020. China Daily via REUTERS/File PH

BEIJING, (Reuters) – China’s industrial output rose by 3.1% in September compared to a year ago, missing all expectations and slower than the 5.3% recorded in August, according to official data released Monday.

Reuters polled analysts and found that they expected an increase in output of 4.5%.

The retail sales rose 4.4% on year in September compared to a 3.3% rise forecast for August and an increase of 2.5% in August.

Fixed asset investments increased by 7.3% over the nine-month period one year ago, which was below the 7.9% increase expected and slower than the 8.9% jump between January-August.

China’s economy rebounded from the COVID-19 pandemic, however, it has been showing signs of decline. This is due to power shortages, supply issues, and regulatory restrictions on tech, property, and other sectors.

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