Industrial production increased 6.2 percent annually, up from 4.7 percent in October and the best reading in six months. The figures exceeded expectations, with analysts surveyed by Bloomberg predicting 5 percent growth in industrial production and 7.6 percent in retail sales. China’s economy is in an extended slowdown and the Singles’ Day fire sale is viewed as a snapshot of consumer sentiment. Economic growth slowed to 6 percent in the third quarter as demand for exports cooled and Chinese tightened their belts. However, analysts said yesterday’s strong data were not necessarily a sign of long-lasting growth.

Source: Taipei Times December 16, 2019 15:56 UTC