Industrial and consumer data showed China’s economy expanded in October, signaling an economic revival after almost two years of sluggish growth, The Wall Street Journal reported. Industrial production increased 9.6% year-on-year in October, outpacing 9.2% annual growth in September, figures published Friday showed. Retail sales increased 14.5% year-on-year in October compared with a 14.2% annual gain in September. The property market is also gathering momentum, a separate report showed. Sales of residential and commercial housing totaled US$742.2 billion this year from January through October, up 5.6% compared to the same period last year, according to data published Friday by the National Bureau of Statistics. Investment in property development in China increased 15% in the ten-month period, while growth in housing prices slowed due to ongoing government measures to limit mortgages and house purchases.
China Economic Review