China's industrial production grew at a faster rate as the shortage in electricity eased in October and retail sales growth accelerated despite the rising number of Covid cases. However, property investment growth weakened raising concern about construction activity going forward.
Industrial production grew at a pace of 3.5 percent after rising 3.1 percent in September, the National Bureau of Statistics said. Economists had forecast annual increase of 3.0 percent.
Likewise, annual growth in retail sales improved to 4.9 percent in October from 4.4 percent in September. Sales were expected to climb at a slower pace of 3.5 percent.
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