China’s industrial output grew by its fastest pace for 17 months in August, the government said on Tuesday, in another sign that it may have arrested a slowdown of growth in the world’s second-largest economy.
Industrial output climbed 10.4 per cent, up from 9.7 per cent growth in July and higher than the average growth of 9.5 per cent for the first eight months of this year, the National Bureau of Statistics reported.
Investment in fixed assets in urban areas soared by 20.3 per cent year-on-year from January to August, while retail sales grew 13.4 per cent over the same period, the bureau said.
Retail sales also rose 13.4 per cent in August, up from 13.2 per cent in July, it said.
Tuesday’s positive data followed a 3 per cent surge in China’s stock markets on Monday after the government reported a fall in consumer price inflation to 2.6 per cent and export growth of 7.2 per cent year-on-year in August.