BEIJING, March 18 Reuters China39;s industrial output grew 7.0 yearonyear in the JanuaryFebruary period, data showed on Monday, accelerating from the 6.8 pace seen in December and beating expectations, marking a solid start for 2024 and offering tentative relief to policymakers.

The reading released by the National Bureau of Statistics NBS was significantly above expectations for a 5.0 increase in a Reuters poll of analysts.

Retail sales, a gauge of consumption, rose 5.5 in the first two months of the year, slowing from a 7.4 increase in December. Analysts had expected retail sales to grow 5.2.

Fixed asset investment expanded 4.2 in the twomonth period from the same period a year earlier, versus expectations for a 3.2 rise. It grew 3.0 in the whole of 2023.

Reporting by Albee Zhang, Ellen Zhang and Joe Cash; Editing by Sam Holmes

Source Reuters