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China's economic recovery continues but signals mixed in October

Thanks to 10m new jobs, surveyed urban unemployment rate eases to 5.3%

Construction workers set up scaffolding in front of shops at Wangfujing shopping street in Beijing on OCt. 14.    © Reuters

China's economic recovery continued last month, though signals were mixed as the latest consumption indicator was weaker than expected, even as fixed-asset investment and industrial output activity beat forecasts, official data showed on Monday.

Retail sales rose 4.3% year-on-year in October, accelerating from a 3.3% rise in September, according to data from the National Bureau of Statistics (NBS). But the reading was lower than the median forecast for a 4.9% increase in a Caixin survey of economists.

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