China's economy demonstrated signs of stabilization in October 2024, with retail sales increasing by 4.8% compared to the same month last year. This growth, reported by the National Bureau of Statistics, marks the highest retail sales increase in eight months, surpassing September's growth of 3.2% and exceeding economists' median forecast of 3.8%.
The latest figures indicate that Beijing's recent stimulus efforts are positively impacting key sectors of the economy, contributing to improved consumer spending and overall economic performance.