October 18, 2019 / 2:14 AM / a month ago

China September industrial output up 5.8% year-on-year, beat forecast; retail sales up 7.8%

FILE PHOTO: A worker welds a bicycle steel rim at a factory manufacturing sports equipment in Hangzhou, Zhejiang province, China September 2, 2019. China Daily via REUTERS/File Photo

BEIJING (Reuters) - China’s industrial output grew 5.8% year-on-year in September, recovering after slowing sharply the previous month, data from the National Bureau of Statistic showed Friday, though the economy remained under broad pressure from cooling demand at home and abroad.

Analysts had expected industrial output, which has been hit by a bruising Sino-U.S. trade war, to grow by 5.0% in September, according to a Reuters poll.

Retail sales rose by 7.8% year-on-year last month, in line with analysts’ expectations of 7.8% growth. Sales in August grew 7.5%.

Fixed asset investment grew 5.4% from January-September, matching what analysts had tipped.

Private sector fixed-asset investment, accounting for 60% of the country’s total investment, grew by 4.7% in January-September, compared with 4.9% in January-August.

Reporting by Kevin Yao; Writing by Huizhong Wu; Editing by Shri Navaratnam

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