China Industrial Output Growth Slows More Than Expected

Industrial output logged an annual growth of 13.2 percent in October, following September's 13.8 percent expansion. The annual growth was expected to ease to 13.4 percent.

The category-wise breakdown showed that output of textile industry grew 8.1 percent, while chemical output rose 13.1 percent. Electrical and transport equipment output advanced 10.8 percent and 11.3 percent, respectively.

During January to October, overall industrial output grew 14.1 percent.

In a separate communique, the statistical office said annual growth in fixed asset investment remained stable at 24.9 percent, but slightly faster than the 24.8 percent rise forecast by economists.