China's August Industrial Production and Retail Sales Growth Beat Forecasts

China’s August Industrial Production and Retail Sales Growth Beat Forecasts

An employee works on a fiber optic cable production line at the factory of Zhejiang Headway Communication Equipment Co in Huzhou, Zhejiang province, China, 15 May 2019. REUTERS/Stringer

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BEIJING, Sep 16 (Reuters) – China’s industrial output rose 4.2% year-over-year in August, better than July’s 3.8% rise, official data showed on Friday suggesting the economic recovery could pulse.

That figure beat expectations for a 3.8% rise, according to a Reuters poll of analysts.

Retail sales rose 5.4%, beating analysts’ expectations of 3.5% growth and 2.7% growth in July.

Fixed investment rose 5.8% in the first eight months of the year compared to the same period a year earlier, against a 5.5% rise expected by analysts and a 5.7% rise in January-July.

The data showed some improvement in the nascent recovery in the world’s second-largest economy, which was hampered by a deep downturn in the property market, prolonged COVID restrictions and lower demand at home and abroad.

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Reporting by Kevin Yao and Ellen Zhang; Editing by Sam Holmes

Our standards: Thomson Reuters Trust Principles.

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