Retail sales, factory output miss forecasts

By Agence France-Presse

Nov 16, 2022 12:14 am

BEIJING: China on Tuesday reported slower-than-expected growth in industrial output and retail sales for October, as a fresh surge in coronavirus cases and a deepening property slump weigh on the world's second-largest economy.

China is the only major economy adhering to a zero-Covid strategy to stamp out virus clusters as they emerge, but swift and harsh lockdowns associated with that approach have battered growth.

An assembly line of new electric vehicles is seen at a factory in the city of Hefei, Anhui province, eastern China on Aug. 28, 2022. XINHUA PHOTO

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