The second-largest economy in the world recently unveiled their most recent economic performance with moderate growth from all most across all borders. The great economic performance is highly buoyed by great retail figures and intense industrial output taking the headlines on their October economic results.
On the bleaker side, the local Chinese government bonds saw an incremental loss on the same day and continuing their sluggish streak. The continued losing streak is caused by the massive consternation of the market on the current deleveraging campaign over at Beijing.
Key Points and Highlights
China provided us with a glimpse of their near full-year performance from their previous October economic data, some of the highlights were as follows; Industrial output, retail sales, and their fixed-asset investment.
The sectors performed remarkably great and were buoying the country’s economic performance; this also proves that the second-largest economy in the world is looking to dominate the whole year despite their most recent step back.
One of the main pieces of the data provided was the stellar industrial output which increased by 6.2% from a year ago. The figures were relatively close to the forecasted figure which was at 6.3% and it is keeping track of the country’s residual growth plan.
The Industrial output was also up last month with a total of 10% increase from a year earlier and is close to parity to the expected 10.5% expected figures and the 10.3% from September. This has been the slowest paced that the retail sales experienced since the start of the year.
Lastly, the fixed-asset investments, excluding the rural household, was up by 7.3% for the first 10 months of 2017 and have managed to match most, if not all, of the analysts’ and economists’ forecasts and expectations.
China’s Dominating Performance
Looking at the last two consecutive months of China, we can see that the whole plan of focusing on quality outputs rather than quantifiable figures approach has been evident and the country has been keen on focusing on doing just that.
We can also expect that another factory output and credit slowdown in the coming months and this may take a heavier toll on the overall results for the country’s last quarter for the year. According to a researcher at Bank of China Ltd.’s Institute of International Finance in Beijing, Gao Yuwei, "Today’s data look a little slower because we had better readings in September, but it doesn’t indicate the economy’s going down," and "China will end the year with a good performance."
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