Senin, 09 September 2013

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China factory output beats estimates

Textile factory in central China's Anhui provinceThe manufacturing sector has been one of the key drivers of China's growth in recent years

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."



Source: BBC News - Business http://www.bbc.co.uk/news/business-24027742#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa