Retail sales in China unexpectedly rose 4.9% in October, compared to the expected 3.5%, and picking up from the 4.4% year-on-year rate in September. Industrial production, on the other hand, was 3.5%, above the expectation of 3% and the September increase of 3.1%.
Fixed asset investment increased by 6.1%, compared to the expectations of 6.2% and the September realization of 7.3%, while the private sector fixed asset investment in January-October became 8.5% year-on-year. Infrastructure investment increased by 1% in the January-October period.
Some points stand out in the evaluation of the National Bureau of Statistics of China;
· The Chinese economy continued to recover steadily in October.
· Efforts to stabilize the economic recovery still need to be stepped up.
· Some short-term factors are causing signs of stagflation in the Chinese economy.
· We expect the Chinese economy to continue to recover and consumer inflation to remain moderate.
· While China implements important projects, it expects infrastructure investments to increase.
· China’s employment situation is getting better and better.
Housing prices are high in many regions compared to the 2020 base, but there is a slowdown in prices compared to last month. Of course, since it is difficult to explain this situation with the prices of building materials, government measures seem to be more prominent. The determinants of the rate of production and consumption lie in mining, metal costs, transportation, and therefore industry sub-branches. Problems in energy and automotive, on the other hand, continue to be at the forefront of machinery and equipment.
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Hibya Haber Ajansı
Kaynak: Hibya Haber Ajansı