China’s industrial production and retail sales grow above expectations in August

China’s industrial production increased by 4.2% year-on-year in August. This is better than the 3.8% growth in July and indicates that the economic upturn can gain momentum.

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

Fixed capital formation increased by 5.8% in the first eight months of the year compared with the same period of the previous year. This compares with analysts’ expectations of a rise of 5.5% and 5.7% in the January-July period.

The data show that the world’s second-largest economy, which has been hurt by the deterioration of the real estate market and declining demand at home and abroad, seems to be starting to recover.

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