According to the data from the National Bureau of Statistics of China, in October, the growth of industrial production slowed down, and retail sales fell for the first time in 5 months. In particular, the volume of industrial production increased by only 5% compared to October last year (after rising by 6.3% in September). Experts on average predicted an increase of 5.2%. Analysts note that the slowdown in production growth suggests that China's economy is gradually losing momentum to growth amid the rise in the incidence of Covid-19 in the country, as well as strict quarantine restrictions. However, it is worth noting that the latest statistics reflect the indicators of October, when quarantine breaks and a softening of the «zero tolerance» policy for coronavirus have not yet been introduced in the country. Retail sales in China in October decreased by 0.5% y/y after an increase of 2.5% a month earlier. Analysts predicted an increase of 1%. Unemployment remained at the level of September – 5.5%. Investments in fixed assets in China have increased by 5.8% since the beginning of 2022 compared to the same period in 2021. Experts expected an increase of 5.9%.
