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 Strictly Come Dancing 2014: Gregg Wallace joins line-up as final celebrities revealed
- 2 Keira Knightley topless: Usually conservative actress does own take on #Freethenipple campaign for Interview Magazine
- 3 Oil tanker with $100 million cargo goes missing off Texas coast
- 4 Saudi Arabia executes 19 in one half of August in 'disturbing surge of beheadings'
- 5 Brother and sister, Christopher Buckner and Timothy Savoy, arrested for 'committing incest after watching 'The Notebook''
YouTube video posted by Isis militants shows 'execution of 250 Syrian soldiers'
Keira Knightley topless: Usually conservative actress does own take on #Freethenipple campaign for Interview Magazine
Oil tanker with $100 million cargo goes missing off Texas coast
George Galloway left with severe bruising after attack in Notting Hill by man 'shouting about the Holocaust'
Brother and sister, Christopher Buckner and Timothy Savoy, arrested for 'committing incest after watching 'The Notebook''
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
What do immigrants really think of Britain? Polish immigrant's Reddit post goes viral
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
Do you realise just how foolish the UK looks?
With Douglas Carswell joining Ukip, my party has taken another giant step forward
- < Previous
- Next >
iJobs Money & Business
£35000 per annum: Harrington Starr: Network Engineer (CCNP, CCNA, Linux, OSPF,...
£50000 per annum: Harrington Starr: DevOps Engineer (Systems Administration, L...
£60000 - £70000 per annum: Harrington Starr: A prestigious leading professiona...
£50000 per annum: Harrington Starr: Financial Technical Consultant (C++, C#, F...