China's factory output growth rebounded in May alongside stronger expansion in credit and consumer spending, bolstering evidence that the world's third-largest economy is on the path to recovery. Elizabeth Dalziel / APThe figures, which round out a batch of monthly data that has mostly surprised on the upside, suggest that the government's huge stimulus spending and tax breaks to encourage purchases of everything from cars to home appliances are helping to offset continued weakness in exports. The acceleration in industrial production growth, to 8.9 percent compared with 7.3 percent in April, beat economists' forecasts of a 7.5 percent rise but was in line with a figure reported by two Chinese newspapers earlier this week.Retail sales grew by 15.2 percent in the year to May, also beating forecasts and up from 14.8 percent expansion in April. Together with the rebound in new domestic-currency lending in May, to 664.5 billion yuan ($97.3 billion) compared with 592 billion yuan in April, the data paint a picture of an economy pulling up from a bottom.
China's factory output growth rebounded in May alongside stronger expansion in credit and consumer spending, bolstering evidence that the world's third-largest economy is on the path to recovery.
The figures, which round out a batch of monthly data that has mostly surprised on the upside, suggest that the government's huge stimulus spending and tax breaks to encourage purchases of everything from cars to home appliances are helping to offset continued weakness in exports.
The acceleration in industrial production growth, to 8.9 percent compared with 7.3 percent in April, beat economists' forecasts of a 7.5 percent rise but was in line with a figure reported by two Chinese newspapers earlier this week.
Retail sales grew by 15.2 percent in the year to May, also beating forecasts and up from 14.8 percent expansion in April.
Together with the rebound in new domestic-currency lending in May, to 664.5 billion yuan ($97.3 billion) compared with 592 billion yuan in April, the data paint a picture of an economy pulling up from a bottom.
new domestic-currency lending
Turnkey: "quantitative easing" in commercial and consumer spending, where before CCP exercised extraordinary, decades-long control of savings and transnat capital markets entry.
There's more to this. Somewhere, not Setser. Diversity is the key to economic and political evolution.
