Bloomberg

Chinese consumers join industrial recovery from covid-19

China's new daily Covid-19 cases dwindled toward double figures in August and the government continued lowering social distancing restrictions. Foto: Carlos Garcia Rawlins

China's economic recovery from covid-19 accelerated, spurred by a rebound in consumption as virus restrictions eased and larger-than-expected gains in industrial output.

Retail sales rose for the first time this year in August, by 0.5% from a year earlier, while industrial production expanded 5.6%, against a forecast of 5.1%. In the first eight months, retail sales slid 8.6%, industrial production advanced 0.4%, and fixed-asset investment was 0.3% lower than the same period in 2019, the National Bureau of Statistics said Tuesday...

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