The latest numbers could provide some relief after inflation figures hinted at growing deflationary pressures stemming from waning demand.
However, the housing sector and manufacturing sector numbers raised concerns as US tariffs pose a risk of reduced demand for Chinese goods.
AMP Head of Investor Strategy and Chief Economist Shane Oliver commented on Friday's data, stating,
"Chinese Oct data was on balance slightly better than expected. Growth in inv was flat at 3.4% yoy, IP was softer than exp., but retail sales accelerated more than exp to 4.8% yoy. Prop-related data remained weak with investment, sales, and home prices continuing to fall."