BEIJING – Retail sales and industrial production in China grew 10.3 percent and 6.2 percent year-on-year respectively until October, representing a slowdown as compared to the growth recorded during the first three quarters of the year, the National Bureau of Statistics said on Tuesday.
By the end of September 2017, retail sales had climbed 10.4 percent from a year earlier while industrial production had risen 6.6 percent.
Retail sales increased to 29.74 trillion yuan ($4.48 trillion), spurred by online sales, which jumped 34 percent year-on-year until October.
In the same period, sales in rural areas grew 12 percent, two percent more than the growth registered in urban areas.
The NBS also published the figures of fixed-asset investment, which registered a 7.3 percent year-on-year growth by the end of October – 0.2 percent slower than the growth recorded until September – to 51.78 trillion yuan.
Investment in infrastructure continued to rise at a sustained rate, with a 19.6 percent growth in the first ten months of the year, boosted by investment in public facility management and road transport.
The private sector accounted for 60.6 percent (31.37 trillion yuan) of the total fixed-asset investment between January and October, the report added.
The NBS also released figures of real estate investment, which rose 7.8 percent until October, slower than the 8.1 percent it grew at until the end of September.