Chinese industrial output has jumped 16.1 percent in October compared to last year, and officials said they were confident that GDP growth would reach 8 percent in the year. Retail sales were also up 16.2 percent, surprising analysts. The Chinese government has spent hugely to bolster the economy following a sharp drop in demand from its trading partners.
Loans, especially yuan-denominated loans, were down sharply in October, the Central Bank announced. The new loans were down 51 percent compared to September, and caused a wide-spread drop in banks’ shares in markets.
Both the consumer price index and the producer price index were down in September in numbers released by the Chinese statistics office. CPI was 1.1 percent lower compared to September last year. BBC, Wall Street Journal, Xinhua
