Official figures released on Tuesday suggest that China economy is picking up steam, according to the South China Morning Post. Monthly data for last month recorded slightly higher industrial output, an increase in household spending and stable fixed-asset investment. Economic performance last month was aided by a sizzling housing market. Residential property sales surged 25.6% by floor area in the first eight months from a year earlier. The stronger-than-expected numbers released by the National Bureau of Statistics on Tuesday, together with a big improvement in last month’s imports data, suggest that Beijing’s pro-growth measures, including increased government spending over recent months, are working. A stronger economy will make it easier for the central government to take painful restructuring measures and help it cope with global headwinds.
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