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China factory output, retail sales beat forecasts in boost to recovery prospects
China's industrial output and retail sales grew at a solid pace in August and beat expectations, suggesting that the recent flurry of support measures may be starting to slowly stabilise a stumbling economic recovery. Retail sales, a gauge of consumption, also increased at a faster 4.6% pace in August aided by the summer travel season, and was the quickest growth since May. That compared with a 2.5% increase in July, and an expected 3% increase. The upbeat data suggest that a flurry of recent measures including property support policies to shore up a faltering economic recovery are starting to bear fruit. Friday's ... (full story)