China growth picking up steam

October data point to improving growth momentum.

According to BBVA, the release of October activity indicators over the weekened provided further evidence of a pickup in growth.

"Fixed asset investment, retail sales, and industrial production all rose from the previous month, by slightly more than expected. Property sales and real estate investment also picked up in October. The data come after an encouraging set of indicators in September, and last week’s release of the official PMI, which rose back to above the 50 threshold for the first time in 3 months," BBVA said.

"At the same time, October CPI inflation released today came in below expectations at 1.7% y/y (BBVA: 2.0%; consensus: 1.9%) on moderating food prices. We see room for further policy easing in the coming months, especially after the ongoing leadership transition is completed," it added.