Industrial output and investment rise, retail sales decline

Industrial robots move production material in a factory of Wenzhou Ruiming Industrial Co Ltd in Ruian. [Photo/Xinhua]

China's industrial output and investment growth picked up in October, while retail sales weakened, the National Bureau of Statistics said on Wednesday.

Industrial output grew by 5.9 percent year-on-year, 0.1 percentage point higher than in September.

Fixed-asset investment growth was 5.7 percent in the first 10 months, rising by 0.3 percentage point compared with the first nine months. Private investment growth was 8.8 percent, 0.1 percentage point higher than the January-September period.

Retail sales growth weakened to 8.6 percent year-on-year in October, down from 9.2 percent in September, due to postponed purchases by shoppers waiting for steep discounts on November 11, the annual online shopping festival.

The NBS said the economy remains stable.