China October retail sales hit highest in 8 months...Stimulus effect?

Domestic economic indicators rose to an eight-month high on the back of China's economic stimulus since late September and the National Day holiday in October.

China's National Bureau of Statistics said retail sales reached 4.5396 trillion yuan last month, up 4.8% from the same month last year.

That was the highest reading in eight months since February, beating market forecasts compiled by Reuters and Bloomberg of 3.8%.

Industrial output rose 5.3% in October, but fell below Reuters' forecast of 5.6% and below September's 5.4%.

Investment in property development fell 10.3% over the same period, indicating that the real estate recession continues.

Overall fixed asset investment, including key items such as infrastructure construction and manufacturing and real estate, rose 3.4%, maintaining a similar level to the previous month.