MercoPress. South Atlantic News Agency
Good news from China: manufacturing, retail sales and investment up in August
The numbers come just days after China reported a strong growth in exports during August. China's industrial production increased by more than expected in August the latest sign that the world's second-largest economy may be on the mend. According to data released on Tuesday factory output climbed 10.4% from a year earlier. Retail sales and fixed asset investment also rose during the month.
China has been trying to boost its economy after its growth rate slowed for two quarters in a row. The numbers come just days after China reported a strong growth in exports during August.
The export and manufacturing sectors have been key drivers of China's economic growth in recent years. But a slowdown in demand from key markets such as the US and Europe had hurt their growth recently.
However, conditions in those economies, especially the US, have been improving - providing a boost to these sectors.
At the same time, Chinese authorities have taken steps to help boost domestic demand to try and rebalance the economy.
Analysts said these measures, which include the suspension of value-added tax and turnover tax for small businesses, had helped boost consumption at home and sustain a high growth rate.
The Chinese data together with the easing of the Syria crisis and strengthening of the US economy helped boost world markets on Tuesday.
Top Comments
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Read all commentsI don't trust Chinese government economic indications too much.
Sep 11th, 2013 - 01:10 am 0However a Chinese slowdown hasn't translated into any real effect on Australia yet.
It's the peak of the manufacturing cycle for all the Chinese crap to be in the western shops ready for Christmas.
Sep 11th, 2013 - 07:25 am 0If the shops haven’t got it by the end of November at the very latest then they won’t take it.
So nothing to shout about.
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Sep 11th, 2013 - 09:08 am 0It is not quite as rushed as you make out, Christmas goods are a very small proportion of goods manufactured in China.
Christmas goods have already been shipped from China as it takes about 4 weeks for a container to reach the UK alone.
Most importers have already taken delivery of goods for xmas.
Orders from importers are taken in late January early February for xmas goods from China!
The xmas goods are displayed for orders at the Spring Fairs at the beginning of the year across the world!
Most goods including xmas decorations are manufactured earlier!
.......This peak has nothing to do with xmas goods!
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