Industrial output rose 6.3 per cent in August, surprising analysts who had expected growth of 6.1 per cent.
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Industrial production rose 6.3 percent year-on-year, the National Bureau of Statistics (NBS) said, faster than July’s 6.0 percent and above the median forecast of 6.2 percent in a Bloomberg News poll of economists. The increase in property sales area was down from 26.4 percent in January-July a year ago.
Retail sales, a measure of private and government spending, climbed 10.6% year-on-year, following a 10.2% increase the previous month. Analysts had forecast an increase of 10.3 per cent.
Beijing is looking to retool the economy from a reliance on investment spending and exports to one driven more by consumer demand, but the transition has proven bumpy and gross domestic product growth is slowing.
But private investment grew just 2.1 per cent, the same pace as in January-July, and remaining at record lows.
China’s fixed-asset investment growth was unchanged at 8.1 percent in the January-August period, slightly better than market expectations.
Investment in China’s economy is stabilising and consumption is improving, a spokesman for China’s statistics bureau said on Tuesday.
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Trade data last week showed stronger domestic demand as imports rose for the first time in almost two years, while exports fell less than expected.
