China's Oct data shows soft economic underbelly, Trump threat looms large
BEIJING -China's factory output growth slowed in October and it was still too early to call a turn in the crisis-hit property sector even though consumers perked up, keeping alive calls for Beijing to top-up its recent blitz of stimulus to revitalise the economy.
Retail growth was boosted by a week-long holiday and the annual Singles' Day shopping festival, which kicked off on Oct. 14, ten days earlier than last year. NBS spokesperson Fu Linghui told a media briefing the recent policy measures appeared to be having a positive economic effect and that officials would continue to step up support.
This meant"all the other more recent stimulus initiatives haven’t shown any impact, including earlier stimulus focused on housing," she said. Sales narrowed the slump, however, possibly indicating stimulus is starting to inject some life into the beleaguered sector, even if a robust recovery might take some time.
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