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Sept. 14, 2020, 10:22 p.m. EDT

China's economic recovery gained speed in August

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By MarketWatch

BEIJING--China's economic recovery accelerated last month, with major indicators rising at faster rates as Beijing's supporting measures kicked in to boost growth amid the coronavirus pandemic.

Retail sales, a major gauge of China's consumption, returned to growth for the first time in 2020, rising 0.5% in August from a year earlier, according to data released Tuesday by the National Bureau of Statistics. The result was better than the 1.1% drop in July and a 0.1% increase expected by economists polled by The Wall Street Journal.

Industrial production rose 5.6%, up from July's 4.8% increase, the statistics bureau said. The economists polled expected 5.2% growth.

Fixed-asset investment dropped 0.3% in the January-August period from a year ago, narrowing from a 1.6% decline in the first seven months of the year and matching the 0.3% drop estimated by economists.

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