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Tuesday 10 September 2013

China's industrial output growth adds to recovery hopes

by Obeji Eric  |  in NEWS at  00:12:00


China's industrial production rose by more than expected in August, the latest sign that the world's second-largest economy may be on the mend
Factory output climbed by 10.4% from a year earlier. Most analysts had forecast a figure closer to 9.9%.

Other data released on Tuesday showed a growth in retail sales and fixed asset investment during the month.

China has been trying to boost its economy after its growth rate slowed for two quarters in a row.

"The better-than-expected figures showed the recovering momentum of China's economy is stronger than market expectations," said Li Huiyong, an economist at Shenyin & Wanguo Securities in Shanghai.

"The three key drivers of China's economy, including exports, investment and consumption, have shown [an] obvious rebounding trend in August."

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