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By Lin Jinbing / Nov 14, 2018 11:07 AM / Economy

Photo: VCG

Photo: VCG

China released a mixed bag of economic data on Wednesday.

The good news was investment growth picked up. Fixed-asset investment excluding rural households, a key driver of domestic demand, rose 5.7% year-on-year in the first 10 months of the year, picking up from an increase of 5.4% in the first nine months, according to data from the National Bureau of Statistics (NBS).

Government-driven infrastructure investment, which comprises spending on the construction of roads, railways and some other public facilities, rose 3.7% year-on-year in the first 10 months, up from the first nine months’ 3.3%, which had marked the slowest growth in available data going back to March 2014.

The bad news was some other indicators went downward. Investment in real estate development rose 9.7% year-on-year in the first 10 months, lower than the reading of 9.9% in the January-September period, NBS data showed.

Retail sales, which include spending by households, government departments and businesses, rose 8.6% year-on-year in October, moderating from 9.2% in September.

One indicator remained little changed. Value-added industrial output, which measures production at factories, mines and utilities, rose 5.9% year-on-year in October, slightly faster than September’s 5.8%.


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