China's economy sustains steady recovery in Oct: NBS

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A customer selects drinks at a supermarket in Guiyang, southwest China's Guizhou province, Sept. 16, 2020. [Photo/Xinhua]

China's economy continued to recover steadily in October, with market demand rebounding and employment situation improving, the National Bureau of Statistics said on Monday.

Retail sales grew by 4.3 percent in Oct on a yearly basis, up from 3.3 percent in the previous month, the NBS said.

Industrial output rose by 6.9 percent year-on-year last month, the same as September.

Fixed-asset investment in the first 10 months rose by 1.8 percent, up from 0.8 percent in the Jan-Sept period.

The urban surveyed jobless rate dropped to 5.3 percent in Oct from 5.4 percent in September.

Despite the improvements, the NBS said "multiple challenges" remained for the Chinese economy, citing the sluggish world economic and trade recovery amid the global spread of the COVID-19.

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