China reports better-than-expected retail sales and industrial production data

China reported better-than-expected retail sales and industrial production for September.

The National Bureau of Statistics said retail sales grew 3.2% from a year ago, better than the 2.5% growth projected by analysts in an LSEG poll. That was also a faster clip than last month's 2.1% growth rate.

Meanwhile, industrial production expanded 5.4% in September from a year ago, more than the 4.5% expected by analysts.

From January through September, fixed asset investment grew 3.4% from a year ago, in line with expectations.

The data comes after a flurry of recent announcements from authorities as Beijing seeks to boost consumption and support its flagging real estate sector.

Investors had long awaited stimulus measures as economic growth in the world's second-largest economy slowed with China struggling to bounce back from Covid-19 lockdowns.

Markets have been volatile as investors assess the announcements and look for further details on implementation.

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