Investing.com - China’s October industrial output and third-quarter investment grew faster than expected, but retail sales missed expectations, the National Bureau of Statistics (NBS) reported on Wednesday.
Industrial output jumped 5.9% in October, outperforming previous expectations of a 5.7% growth, the NBS said.
Meanwhile, Fixed-asset investment growth came in at 5.7% in the January-October period, again beating analysts’ estimates of a 5.5% growth.
Private-sector fixed-asset investment rose 8.8% in January-October, compared with an increase of 8.7% in the first three quarters.
Private investment accounts for about 60% of overall investment in China.
Retail sales, on the other hand, rose 8.6% year-on-year in October. Markets expected sales to rise by 9.1%.
Trade disputes with the U.S. continued to impact China’s economic outlook, analysts said.
Negotiations between the two nations have stalled after U.S. President Donald Trump ordered new tariffs on Chinese goods earlier this year.
However, on Wednesday, top white house economic advisor Larry Kudlow told CNBC in an interview that communications between China and the U.S. are now at all levels of two governments, adding that he has spoken to Treasury Secretary Steven Mnuchin about it as part of their preparation for the upcoming G-20 summit.
"I think that's very, very, very positive," said Kudlow, although he refused to predict the outcome of the discussions.
Trump is set to meet with his Chinese counterpart Xi Jinping during the G-20 summit later in the month to discuss trade issues.