China September industrial output rises 5.4%, beating expectations
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FILE PHOTO: An employee works on the production line for solar panels at a factory of GCL System Integration Technology in Hefei, Anhui province, China May 16, 2024. China Daily via REUTERS/File Photo
BEIJING (Reuters) - China's industrial output in September grew 5.4% from a year earlier, up from a 4.5% pace in August, providing some encouragement to policymakers as they step up efforts to revive a sluggish economy as the year-end draws closer.
The official data from the National Bureau of Statistics (NBS) on Friday beat expectations for a 4.5% rise in a Reuters poll of 40 analysts.
Retail sales, a gauge of consumption, rose 3.2% in September, accelerating from a 2.1% growth in August. Analysts had forecast a 2.5% rise.
Fixed asset investment expanded 3.4% in the first nine months from a year earlier, compared with an expected 3.3% increase. It rose 3.4% in the January-to-August period.
(Reporting by Kevin Yao and Ethan Wang; Editing by Christian Schmollinger)
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