By Daniel Hunter
China is still struggling to maintain its unprecedented rate of growth seen over the past few years, according to new data.
A range of economic figures came in below expectations adding to pressure on the Chinese government to introduce more stimulus measures.
Industrial output was up 7.7%, compared with forecasts of 8%. Fixed asset investment was up 15.9%, down from 16.1% in September. Retail sales were up 11.5% on expectations of 11.6%. In the context of the wider global economy, these are still tremendously strong figures. But considering China's even stronger growth in recent years, they are showing signs that the country is struggling to keep up.
In October, official data showed that China's economic growth slowed to a five-year low.
"Chinese core October data came in uniformly softer and below consensus. Industrial output slowed to 7.7% year-on-year, the second weakest pace since the Lehman crisis, likely on pre-Apec factory closures," said Dariusz Kowalczyk, economist at Credit Agricole.
"The data highlights downward pressure on the mainland economy. It will encourage further monetary easing."
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