Consumption surges, economy powers ahead


Despite growth numbers that would be phenomenal in a country like the United States or Japan, China's retail sales are seen as a weak spot in an economy being stoked by even stronger factory output, exports and investment.

Industrial output rose 17.2 per cent in October from a year earlier while exports climbed nearly 37 per cent, earlier data showed.

In the first nine months of this year the economy was up an annual 8.5 per cent.

Retail sales rose 8.8 per cent in 2002, when the overall economy grew 8 per cent.

Source: China Daily



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