China’s retail sales beat expectations in October
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An employee arranges vegetables in a Congtai district supermarket on November 10, 2021, Handan Province, China.
Li Hao | Visual China Group | Getty Images
BEIJING — China’s retail sales rose more than expected in October, the National Bureau of Statistics said Monday.
Retail sales increased 4.9% in October compared to a year earlier, surpassing a Reuters poll that predicted 3.5% growth.
Also, industrial production grew by 3.5% in October compared to expectations. Reuters had predicted 3% growth.
Fixed asset investments increased by 6.1% between January and October compared to a year earlier, slightly lower than the projected 6.2% increase in a Reuters poll.
Urban unemployment was 4.9%. For those between 16 and 24, the rate was 14.2%.
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