Caixin
Sep 16, 2022 04:49 PM
ECONOMY

China’s Economy Shows Signs of Recovery as Stimulus Ramps Up

Shoppers at a downtown market in Beijing. Photo: Bloomberg
Shoppers at a downtown market in Beijing. Photo: Bloomberg

(Bloomberg) — China’s economy showed signs of recovery in August as Beijing rolled out stimulus measures to counter a slowdown, although a property market slump and Covid outbreaks continue to weigh on the outlook.

Industrial production growth accelerated to 4.2%, the National Bureau of Statistics said Friday, beating economists’ forecast of a 3.8% increase. Retail sales rose 5.4% from a year earlier, higher than the expected pace of 3.3%, and up from 2.7% in July. The rebound came on the back of a low comparison base last year and remained well below the pre-pandemic levels.

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