Official figures in China say the country's annual economic growth rate has increased after slowing for the previous two quarters. The National Bureau of Statistics shows the economic growth at an annual rate of 7.8 per cent between July and September, up from 7.5 per cent in the previous quarter. The industrial production, which measures output at factories, workshops and mines, rose 10.2 per cent while retail sales, was up 13.3 per cent and fixed asset investment rose 20.2 per cent during the first nine months of the year. Economists surveyed ahead of the release of the report card had said the jump was mainly a result of government stimulus since late June that featured increased rail and urban fixed asset investment and tax cuts.
News On AIR | October 18, 2013 11:47 AM
Govt stimulus spurs China growth spurt after 2 year slowing<br/>