China’s economy stabilises

Steady rise: Workers producing heavy truck engines at a factory in Hangzhou. China’s economy showed signs of stabilising in October with retail sales and factory output beating expectations. — AFP

BEIJING: China’s economy performed better than expected in October as retail sales and industrial output beat estimates, relieving concern a property slump was broadening.

Industrial output rose 3.5% in October from a year earlier, according to the National Bureau of Statistics (NBS), faster than September’s reading and higher than economists’ expectations.