A look at China's October economic data

China's main economic indicators remained in a reasonable range in the first 10 months, with the fundamentals of stable economic operation staying same. The country has many advantages and potentials in long-term development and the structural adjustment has been steadily advancing.

China's major economic indicators put up a mixed performance in October, with industrial output and investment growth picking up while retail sales growth slowing, according to the National Bureau of Statistics.

Analysts said authorities may continue to take pro-active measures to shore up the economy in the coming months.

Some indicators have pointed to a stabilization of economic growth amid economic restructuring as the world's second-largest economy strives to be more fueled by high-tech industries, services and domestic consumption.

"The October data show that economic growth is stable while the country continues with economic restructuring," said Pan Jie, an Orient Securities analyst.

But there have been quite a few external uncertainties, such as cooling global economic growth, turbulent financial markets and fluctuations in commodity prices, said Liu Aihua, an NBS spokeswoman, at a news conference.

1CPI eases slightly

China's consumer price index, a main gauge of inflation, rose 2.5 percent year-on-year in October, unchanged from September, which ended a rising streak for four consecutive months, the NBS said.

For the first 10 months, the CPI gained 2.1 percent from one year earlier, well below the government's target ceiling of 3 percent for 2018.

Analysts said with the index expected to continue to moderate, it will not affect the country's monetary easing this year.

2PPI up 3.3%

The producer price index, which measures costs for goods at the factory gate, rose 3.3 percent year-on-year in October, with the pace of growth slowing for a fourth month, according to the NBS.

Over the past 10 months, the PPI saw 3.9-percent rise year-on-year.

The PPI rose 0.4 percent in October on a monthly basis, down from 0.6 percent registered in September.

3Manufacturing activity remains stable

China's manufacturing purchasing managers' index came in at 50.2 in October, narrowing from 50.8 in September, according to the NBS.

A reading above 50 indicates expansion, while a reading below reflects contraction.

The non-manufacturing sector held steady in October, with the PMI for the sector standing at 53.9 in October, down from 54.9 in September.

4Industrial output growth picks up

China's value-added industrial output, an important economic indicator, saw slightly faster growth in October than the previous month, the NBS said.

The output expanded 5.9 percent year-on-year in October, up 0.1 percentage point from that recorded in the previous month.

On a monthly basis, output in October grew 0.48 percent from September. In the first 10 months of the year, industrial output rose 6.4 percent, flat with that for the first nine months.

5FAI up 5.7% in first 10 months

China's fixed-asset investment rose 5.7 percent in the first 10 months of the year, accelerating from 5.4 percent for the January-September period, the NBS said.

Private investment growth was 8.8 percent, 0.1 percentage point higher than the January-September period.

On a monthly basis, FAI edged up 0.44 percent from September.

6Property investment expands slower

China's real estate investment increased 9.7 percent year-on-year in the first 10 months of this year, down 0.2 percentage points from the January-September period and declining for the third consecutive month, the NBS said.

NBS data showed investment in the real estate sector amounted to 9.93 trillion yuan.

7Retail sales up 8.6%

China's retail sales of consumer goods grew 8.6 percent year-on-year to 3.55 trillion yuan in October, according to the NBS.

The growth slowed in comparison with the 9.2-percent rise in September. The NBS said the slower growth of retail sales is partly due to the delayed consumption demand fueled for the Singles' Day sales festival on Nov 11.

In the first 10 months, retail sales grew 9.2 percent to reach 30.98 trillion yuan.

8Trade growth hits a new high

China's foreign trade volume reached 2.75 trillion yuan in October, up 22.9 percent year-on-year, the highest growth rate this year, according to the General Administration of Customs.

Exports jumped by 20.1 percent year-on-year to 1.49 trillion yuan in October, while imports grew by 26.3 percent to 1.26 trillion yuan.

In the first 10 months of the year, the foreign trade volume increased by 11.3 percent year-on-year to 25.05 trillion yuan.

9New yuan loans declines

China's new yuan-denominated loans stood at 697 billion yuan in October, down from 1.38 trillion yuan in September, central bank data showed.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, rose 8 percent year-on-year to 179.56 trillion yuan at the end of last month.

10FDI continues to grow in first 10 months

China's foreign direct investment rose 3.3 percent year-on-year to 701.16 billion yuan in the January-October period, with the FDI increasing by 7.2 percent year-on-year to 64.46 billion yuan in October, the Ministry of Commerce said.

49,545 new foreign-invested enterprises were set up nationwide in the first 10 months of this year, up 89.3 percent over the same period last year. In October, 3,623 foreign-funded enterprises were newly established, increasing by 37.6 percent year-on-year.

11Fiscal revenue down 3.1%

China's fiscal revenue growth entered negative territory for the first time this year with a 3.1-percent year-on-year decline in October, according to the Ministry of Finance.

The country's fiscal revenue stood at 1.57 trillion yuan in October.

In the first 10 months of the year, fiscal revenue rose 7.4 percent year-on-year to 16.1 trillion yuan.

12Jobs market remains stable

China's jobs market performed stably in October with the surveyed urban unemployment rate nationwide staying at 4.9 percent, unchanged from September and the same month last year, according to the NBS.

The number of newly-created jobs in urban areas had exceeded 12 million in the first 10 months, an increase of 90,000 from the same period last year and achieving the annual target by 109 percent.

13Power use sees milder growth

China's power consumption rose at a slower pace in October, according to the National Development and Reform Commission.

In the first 10 months of the year, power use totaled 5.66 trillion kilowatt hours, up 8.7 percent year-on-year and down 0.2 percentage points from the first nine months but up 2 percentage points from the same period last year.

In October power use rose 6.7 percent year-on-year, compared with 8 percent in September.

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