China November industrial output up 10%; retail sales also rise

BEIJING (AFP) - China's industrial output, which measures production at factories, workshops and mines, rose 10 per cent last month year-on-year, the National Bureau of Statistics (NBS) announced on Tuesday.

Retail sales, a key indicator of consumer spending in the world's second-largest economy, also increased, gaining 13.7 per cent in November from the year before, the NBS said. Fixed asset investment, a measure of government spending on infrastructure, expanded 19.9 per cent during the first 11 months of the year, it added.

The industrial output result represented a slowdown from the 10.3 per cent growth recorded in October, while retail sales accelerated from the previous 13.3 per cent. The fixed asset investment figure compared with an increase of 20.1 per cent for the first 10 months of the year.

The data for last month come after strong export and benign inflation figures for the month, as China's economy - a driver of global and regional growth - shows further signs of strength after a slump in the first half of the year.

Gross domestic product expanded 7.8 per cent in the three months from July to September, snapping a two-quarter slowdown, with data for the final three months of the year so far suggesting a steady outlook.

Figures on Monday showed Chinese inflation slowed to 3 per cent last month, after two months of acceleration in consumer prices, well under the government's target for the year of 3.5 per cent.