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Consumers lead China economic recovery

China’s consumers are driving a patchy economic recovery that is leading to increased retailer confidence for the first half of 2013, Reuters reported, citing a national survey released on Wednesday. The China Beige Book, a poll of more than 2,000 executives, showed the retail sector to have the fastest revenue expansion and business confidence in the fourth quarter of the year. The survey revealed a slower recovery among those sectors that suffered more severely during the downturn, such as real estate, manufacturing and mining. The survey put retailer sentiment above the previous quarter, with 72% predicting more sales in the next six months, while only 6% forecasted lower revenues, according to the survey conducted by US researcher CBB International. The retail recovery was strong in Guangdong province, Beijing and the central and northeast parts of China, but weak in Shanghai and the southwest region.

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