China’s factory output expanded in August at its fastest rate this year in a new sign the world’s second-largest economy is recovering from its deepest slump since the 2008 global crisis.
Industrial production rose 10.4 percent, accelerating from July’s 9.7 percent, government data showed Tuesday.
The signs of economic revival will ease pressure on Chinese leaders who want to focus on longer-term structural reforms analysts say are needed to keep economic growth strong.
“We have got a picture of a broad-based recovery from external demand to domestic demand, and from consumption to investment,” said Bank of America economists Xiaojia Zhi and Ting Lu in a report.
via Mainichi
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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