China’s Economic Activity Mixed as Beijing Steps Up Support

(Bloomberg) — China’s economic activity was mixed in October as consumer spending and industrial output picked up, while investment growth slowed on an ongoing property crisis that has dampened the recovery’s outlook.

Retail sales climbed 7.6% from a year earlier, the National Bureau of Statistics said Wednesday, better than estimates — though it compared to a particularly weak month in 2022 when spending contracted amid pandemic restrictions and outbreaks. Industrial production rose 4.6% from a year earlier, higher than the consensus forecast of a 4.5% increase.