EconomyLens.com
No Result
View All Result
Saturday, July 5, 2025
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
EconomyLens.com
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
No Result
View All Result
EconomyLens.com
No Result
View All Result
Home Other

China retail sales pick up speed, beat forecasts in October

Emma Reilly by Emma Reilly
November 14, 2024
in Other
Reading Time: 4 mins read
A A
2
22
SHARES
273
VIEWS
Share on FacebookShare on Twitter

Chinese policymakers are grappling with slumping domestic consumption. ©AFP

Beijing (AFP) – China’s retail sales last month grew at their fastest clip since the start of the year, official figures showed Friday, an encouraging sign for Beijing as it looks to boost sluggish consumption. Officials have since late September unveiled a slew of measures including interest rate cuts and debt swaps intended to boost activity in the world’s second-largest economy, which has struggled to regain momentum since the pandemic.

Related

BRICS nations to denounce Trump tariffs

Trump signs ‘big, beautiful’ bill on US Independence Day

France says ‘major issues’ remain despite brandy price accord with China

France praises China Cognac progress, warns of unresolved issues

Modi pushes further India-Africa cooperation on Ghana visit

Among the woes facing policymakers are slumping domestic consumption resulting in deflationary pressure, a property sector bust, and geopolitically fraught trade disputes. Retail sales expanded 4.8 percent on-year in October, the National Bureau of Statistics (NBS) said, speeding up from the 3.2 percent in September. The reading also significantly outperformed the 3.8 percent forecast in a Bloomberg survey of analysts and represents the best reading since February.

Figures also showed the national urban unemployment rate fell slightly to five percent from 5.1 percent in September. However, industrial production growth edged down to 5.3 percent in October, the NBS figures showed, from 5.4 percent the previous month. The NBS said in a statement that in October “positive factors accumulated and increased and the national economy was stable, with progress and growth.”

Beijing is pushing for an official national growth target this year of around five percent, a goal most economists believe it will narrowly miss. But recent weeks have seen officials announce their most aggressive measures in years in a bid to breathe fresh life into the economy. The new policies have included a debt swap programme to ease the burden on local governments, mortgage rate cuts, and the elimination of certain restrictions on home purchases.

“The economy stabilised in October because of the policy shift in late September,” wrote Zhang Zhiwei, President and Chief Economist of Pinpoint Asset Management, in a note. But Zhang warned that the “property sector has not turned around.” The market is now turning its attention to the new year, with prospects of an intensified trade war under US president-elect Donald Trump, Zhang added. “The key question is how much fiscal stimulus China will run to counter potential export slowdown.”

© 2024 AFP

Tags: Chinaeconomic growthretail sales
Share9Tweet6Share2Pin2Send
Previous Post

Xi inaugurates South America’s first Chinese-funded port in Peru

Next Post

Asian markets fluctuate at end of tough week

Emma Reilly

Emma Reilly

Related Posts

Other

Stocks, dollar drop as tariff talk dominates

July 4, 2025
Other

As US stocks hit records, experts see the dollar falling further

July 5, 2025
Other

UN expert says firms ‘profiting’ from ‘genocide’ of Palestinians

July 4, 2025
Other

Hidden gem: Angola opens up to tourists in a pivot from oil

July 3, 2025
Other

Stocks climb as strong US jobs data soothes growth worries

July 4, 2025
Other

UK’s Starmer backs finance minister after tears in parliament

July 3, 2025
Next Post

Asian markets fluctuate at end of tough week

Japan growth slows as new PM readies stimulus

Xi, Biden attend Asia-Pacific summit, prepare to meet

'Megaquake' warning hits Japan's growth

0 0 votes
Article Rating
Subscribe
Notify of
guest
guest
2 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
  • Trending
  • Comments
  • Latest

New York ruling deals Trump business a major blow

September 30, 2024

Elon Musk’s X fights Australian watchdog over church stabbing posts

April 21, 2024

Women journalists bear the brunt of cyberbullying

April 22, 2024

France probes TotalEnergies over 2021 Mozambique attack

May 6, 2024

Ghanaian finance ministry warns against fallout from anti-LGBTQ law

74

New York ruling deals Trump business a major blow

72

Shady bleaching jabs fuel health fears, scams in W. Africa

71

Stock markets waver, oil prices edge up

65

Eight OPEC+ alliance members move toward output hike at meeting

July 4, 2025

Bombers and a ‘beautiful bill’ — Trump celebrates US Independence Day

July 4, 2025

BRICS nations to denounce Trump tariffs

July 4, 2025

Trump signs ‘big, beautiful’ bill on US Independence Day

July 4, 2025
EconomyLens Logo

We bring the world economy to you. Get the latest news and insights on the global economy, from trade and finance to technology and innovation.

Pages

  • Home
  • About Us
  • Privacy Policy
  • Contact Us

Categories

  • Business
  • Economy
  • Markets
  • Tech
  • Editorials

Network

  • Coolinarco.com
  • CasualSelf.com
  • Fit.CasualSelf.com
  • Sport.CasualSelf.com
  • SportBeep.com
  • MachinaSphere.com
  • MagnifyPost.com
  • TodayAiNews.com
  • VideosArena.com
© 2025 EconomyLens.com - Top economic news from around the world.
No Result
View All Result
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials

© 2024 EconomyLens.com - Top economic news from around the world.