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Dow Jones Newswires: China’s factory production, speeds up in September, but retail sales slow


China’s factory production and investment grew at faster paces in September thanks to supportive government policies, but consumption continued to be curbed by COVID-19 restrictions.

Retail sales rose 2.5% from a year earlier in September, down from a 5.4% increase in August, the National Bureau of Statistics said Monday. The result undershot the 2.7% growth expected by economists polled by The Wall Street Journal.

Industrial production grew 6.3% from a year earlier in September, compared with a 4.2% increase in August and the 5.0% growth anticipated by the surveyed economists.

Fixed-asset investment climbed 5.9% in the January-September period from a year ago, up from a 5.8% increase in the first eight months of the year. Economists in the WSJ poll had expected FAI growth at 6.0%.

China’s urban surveyed unemployment rate rose to 5.5% in September, compared with 5.3% in August. The jobless rate for young workers aged 16 to 24 stood at 17.9%, compared with 18.7% in August.

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