September 15, 2023

The Chinese economy gained stronger traction last month, evident in various positive indicators such as robust factory production and improving consumer sentiment. These encouraging signs point towards a steady recovery.

Value-added industrial output went up 4.5 percent year on year in August, higher than 3.7 percent recorded in July, and retail sales of consumer goods reported a quicker 4.6-percent increase after a slowdown lasting three consecutive months, data from the National Bureau of Statistics (NBS) said Friday.

The service sector also gathered steam as its production index went up 6.8 percent, 1.1 percentage points faster than the previous month. The surveyed urban jobless rate was 5.2 percent, lower than 5.3 percent in July.

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