October industrial output was under target

China's October industrial output fell below expectations, the Wall Street Journal reported. Value-added industrial production rose 17.9% in October compared to a year earlier, according to the National Bureau of Statistics. This is less than the 18.9% gain that was recorded in September and also missed the expected rise of 19.1%. China's industrial output increased 18.5% from January to October this year. Nevertheless, the State Council said after a meeting that the government was wary of economic overheating and would take further measures against it. The central bank has usually raised interest rates after State Council meetings over economic data in the past.