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China July Industrial Output Growth Tops Estimates at 9.7%

China July Industrial Output Growth Tops Estimates at 9.7%
Dancers perform on a platform in the atrium of the K11 Art Mall during its opening in Shanghai. Retail sales in China compared with the median projection for a 13.5 percent advance and a 13.3 percent increase the previous month. Photographer: Tomohiro Ohsumi/Bloomberg

Aug. 9 (Bloomberg) -- China’s industrial output rose 9.7 percent in July from a year earlier and retail sales gained 13.2 percent, the National Bureau of Statistics said on its website today.

Fixed-asset investment excluding rural households in the first seven months of the year increased 20.1 percent, the Beijing-based agency said.

The advance in industrial production compared with the 8.9 percent median estimate in a Bloomberg News survey of 47 economists and an 8.9 percent increase in June. Retail sales compared with the median projection for a 13.5 percent advance and a 13.3 percent increase the previous month.

The median estimate for fixed-asset investment was a 20 percent increase after a 20.1 percent gain in the first half.

Data released earlier today showed consumer prices rose 2.7 percent in July from a year earlier, below the government’s 2013 target of 3.5 percent for a seventh month. Producer-prices fell 2.3 percent, the 17th straight monthly decline.

To contact Bloomberg News staff for this story: Scott Lanman at slanman@bloomberg.net

To contact the editor responsible for this story: Paul Panckhurst at ppanckhurst@bloomberg.net

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