China’s factory output and retail sales exceeded forecasts and inflation unexpectedly cooled to the slowest pace in 33 months, signaling the government is boosting growth without driving a rebound in prices.
Industrial production rose 9.6 percent in October from a year earlier, the National Bureau of Statistics said today in Beijing. That exceeded the 9.4 percent median estimate of analysts surveyed by Bloomberg News. Retail sales growth of 14.5 percent picked up from September’s 14.2 percent. The consumer- price index increased 1.7 percent.
Food prices rose 1.8 percent last month from a year earlier, compared with a 2.5 percent gain in September, according to the statistics bureau. Pork, a Chinese staple, dropped 15.8 percent from a year earlier, subtracting 0.6 percentage point from the CPI, compared with a 38.9 percent rise in October 2011.
Elsewhere in the Asia-Pacific region, the Reserve Bank of Australia reduced its 2013 growth forecast as lower investment and the government’s pledge to deliver a budget surplus restrain the economy. The Bank of Korea kept interest rates unchanged as projected by all economists surveyed by Bloomberg. Malaysia’s exports unexpectedly rose in the first gain in three months in September.
http://www.bloomberg.com/news/2012-11-09/china-oct-consumer-prices-rise-1-7-vs-1-9-economists-.html
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