Industrial output, retail sales growth better than expected
Property sales extend declines, investment slumps
Oct indicators still show significant areas of economic weakness
Economists expect RRR, interest rate cuts

BEIJING, Nov 15 Reuters China39;s industrial output and retail sales growth beat expectations in October, but the underlying economic picture highlighted significant pockets of weakness with the crisishit property sector continuing to forestall a fullblown revival.

The world39;s secondbiggest economy has struggled to mount a strong postCOVID recovery as distress in the housing market, local government debt risks, slow global growth and geopolitical tensions have dented momentum. A flurry of policy support measures have proven only modestly beneficial, raising pressure on authorities to roll out more stimulus.

China39;s industrial output grew 4.6 in October yearonyear, accelerating from the 4.5 pace seen in September, data from the National Bureau of Statistics NBS showed on Wednesday, beating expectations for a 4.4 increase in a Reuters poll. It also marked the strongest growth since April.

Retail sales rose 7.6 in October with improvement in both auto and restaurant sales growth, quickening from a 5.5 gain in September and hitting the fastest pace since May. Analysts had expected retail sales to grow 7.0 due to the low base effect in 2022 when COVID curbs disrupted consumers and businesses.

Analysts struck a cautious note on the upside data…