Signs of stabilisation in China as retail sales and industrial output grow
Beijing — China’s industrial output and retail sales growth accelerated in November, government data showed on Tuesday, in a sign of stabilisation for the world’s second-largest economy. Industrial output rose 6.2% in the month, ahead of both October’s figures and economists’ predictions of 6.1% in a Bloomberg News survey. Retail sales rose 10.8% year on-year in nominal terms, up from 10.0% in October, while fixed-asset investment, a gauge of infrastructure spending, rose 8.3% in the first 11 months of the year, the National Bureau of Statistics (NBS) said. China is a key driver of the world economy but its expansion has slowed significantly from the double-digit years of the past. Now Beijing is seeking to make a difficult transition away from its dependence on exports and heavy industry towards consumption as the engine of the economy. After a bumpy start to the year it has shown resilience in the last quarter, aided by ample credit policies and the weakening of the yuan currency,...
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