© Reuters. An employee works at a production line manufacturing optical fiber cables at a factory of the Zhejiang Headway Communication Equipment Co in Huzhou, Zhejiang province, China May 15, 2019. REUTERS/Stringer
BEIJING (Reuters) – China’s industrial output rose 4.2% in August from a year earlier, better than the 3.8% growth in July, official data showed on Friday, suggesting the economic recovery was able to sustain momentum.
The figure beat expectations for a 3.8% gain in a Reuters poll of analysts.
Retail sales edged up 5.4%, better than analysts’ expectations for a 3.5% rise and 2.7% growth in July.
Fixed asset investment expanded 5.8% in the first eight months of the year from the same period a year earlier, versus a 5.5% rise expected by analysts and growth of 5.7% in January-July.
The data showed some improvement in the nascent recovery in the world’s second-largest economy, which has been hobbled by a deep property slump, protracted COVID curbs and softening demand at home and abroad.