China’s industrial output rose by a less-than-expected 7.2 per cent in November from a year earlier, though retail sales expanded 11.7 per cent, beating forecasts, the National Bureau of Statistics said on Friday.

Fixed-asset investment, an important driver of economic activity, grew 15.8 per cent in the first 11 months of the year from the same period last year, in line with forecasts but easing slightly.

Economists polled by Reuters had forecast industrial output to rise 7.5 per cent and retail sales to rise 11.5 per cent. Fixed-asset investment for the January-November period was seen up 15.8 per cent.

Output grew 7.7 per cent in October and retail sales rose 11.5 per cent, with January-October fixed-asset investment up 15.9 per cent from the same period a year earlier.

China’s economic growth slowed to 7.3 percent in the third quarter, the weakest pace since the global financial crisis, despite a series of stimulus measures.

The central bank surprised markets by cutting the interest rates on November 21 and analysts see further easing in coming months as Beijing tries to avert the risk of a sharper slowdown.

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