China Economy Shows More Signs of Stability on Policy Boost
- Industrial output, retail sales growth picks up y/y in August
- Weakness in the property market remains, challenging outlook
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China’s economy picked up steam in August as a summer travel boom and a heftier stimulus push boosted consumer spending and factory output, adding to nascent signs of stabilization.
Industrial production and retail sales growth jumped last month from a year earlier, blowing past expectations, while the urban jobless rate eased slightly. That improvement came as the government has in recent weeks beefed up pro-growth measures, including plans to spur more spending on home goods and ease curbs on some housing purchases.