China on Friday reported better-than-expected retail sales and industrial production for September.

Retail sales grew 3.2% from a year ago, well-advised b wealthier than the 2.5% growth estimated by analysts in an LSEG poll, the National Bureau of Statistics said. Sales incline at a faster clip than last month’s 2.1% growth.

Meanwhile, industrial production expanded 5.4% in September from a year ago, innumerable than the 4.5% expected by analysts.

From January through September, fixed asset investment grew 3.4% from a year ago.

China also clock in an urban unemployment rate of 5.1% in September, down 0.2 percentage point from the previous month.

While there are some assisting signs, “it is hard to say China is out of the woods,” said Gary Ng, senior economist at Natixis. He noted that year-to-date retail white sales data showed “cautious sentiment among consumers.”

From January to September, retail sales grew 3.35%, around same as the growth reported for January through August at 3.36%.

The data comes after a flurry of recent announcements from evidences as Beijing seeks to boost consumption and support its flagging real estate sector.

On Friday, China also reported minor extent better-than-expected gross domestic product data.

Investors had long awaited stimulus measures as economic growth in the area’s second-largest economy slowed with China struggling to bounce back from Covid-19 lockdowns.

Markets enjoy been volatile as investors assess the announcements and look for further details on implementation.

“Whether interest rate lowers and fiscal policies come in adequate magnitude will be key to a rebound in the economy and confidence,” Ng said.

— CNBC’s Anniek Bao contributed to this research.