Factory output surges across China
Chinese industrial production surged in August, in a sign that activity in the world's second largest economy is stabilising.
Factory output grew by 10.4 per cent on last year, the fastest pace in 17 months and above most economists' expectations. The positive figures followed strong readings on exports earlier this week.
China also reported yesterday that retail sales grew 13.4 per cent year on year in August, a slightly higher rate than in July. Investment grew by 21.5 per cent on last year and was up 20.3 per cent over the first eight months of 2013. Growth of fixed asset investment in water utilities and environmental protection were up 33.4 per cent and 20 per cent on the same month a year earlier.
"The better-than-expected figures showed the recovering momentum of China's economy is stronger than market expectations," Li Huiyong of Shenyin & Wanguo Securities said.
But other economists voiced doubts about sustainability. "The dominant role of infrastructure played in the sudden turnaround confirms our concern over the sustainability," Wei Yao of Société Générale said.
China is attempting to move from a growth model powered by heavy investment and high saving, to one based more on consumer consumption.
- 1 Al Pacino on suffering from depression: 'It can last and it's terrifying'
- 2 Half of young women unable to ‘locate vagina’ and 65% find it difficult to say the word
- 3 Saudis risk new Muslim division with proposal to move Mohamed’s tomb
- 4 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
- 5 Mexican woman becomes world’s 'oldest person' at 127
Perez Hilton apologises for publishing Jennifer Lawrence naked photo leak
Victoria Justice on naked photo leak: 'Let me nip this in the bud right now – pun intended'
Jennifer Lawrence 'nude photo hacker' claims there are hundreds more celebrity images to be published
Saudis risk new Muslim division with proposal to move Mohamed’s tomb
Ariana Grande nude photos leak: Pictures are completely fake, say singer's representatives
Rotherham child sex abuse scandal: Labour Home Office to be probed over what Tony Blair's government knew - and when
What do immigrants really think of Britain? Polish immigrant's Reddit post goes viral
Ashya King: Parents of five-year-old boy refused permission to visit him in hospital and denied bail at Spanish court
With Douglas Carswell joining Ukip, my party has taken another giant step forward
When elitism grips the top of British society to this extent, there is only one answer: abolish private schools
Ukip Douglas Carswell defection: Tory MP jumps ship to join Nigel Farage
iJobs Money & Business
£60000 - £75000 per annum + BONUS + BENEFITS: Harrington Starr: Business Anal...
£40000 - £50000 per annum + benefits+bonus+package: Harrington Starr: SQL Impl...
£85000 per annum: Harrington Starr: Head of IT (Windows, Server, VMware, SAN, ...
£40000 - £50000 per annum: Harrington Starr: You will not be expected to hav...