The October figure falls below the 6.5% recorded in September and is also below the consensus forecast of analysts, who predicted an expansion of about 5.5% compared to October 2024.
Among the three main sectors into which the National Bureau of Statistics (NBS) divides this indicator, the highest increase in October was in the production and supply of electricity, heating, gas, and water (+5.4%), followed by manufacturing (+4.9%) and mining (+4.5%).
The data also indicate that Chinese industrial production accumulated a growth of 6.1% in the first ten months of 2025.
The NBS also released other statistical data today, such as retail sales – a key indicator for measuring consumption – which rose 2.9% year-on-year in October, slightly lower than the previous month’s figure (3%) but above analysts’ expectations.
Meanwhile, the official urban unemployment rate stood at 5.1% in October, down from 5.2% in September.
Investment in fixed assets continued its downward trend, moving from a contraction of 0.5% by September to a decline of 1.7% for the first ten months of the year.
The breakdown of the indicator shows that investment in manufacturing increased by 2.7% by October, while investment in infrastructure fell by 0.1%.
Investment in real estate development continued to decline, with a 14.7% year-on-year drop over the same period, amidst the sector’s ongoing crisis.
In this specific area, the NBS indicated that commercial property sales measured by floor area decreased by 6.8% in the first ten months of the year compared to the same period in the previous year, with a 7% drop in the residential segment.
The agency also published a report today on real estate prices, indicating a month-on-month decrease of 0.45% from September to October in new home prices in 70 selected cities, marking the 29th consecutive month of decline in housing prices, a key savings vehicle for the Chinese population.
