BEIJING (AP) — Growth in China’s factory output and retail sales accelerated in October in a new sign an economic recovery might be taking shape as the Communist Party prepares to install a new generation of leaders.
The government said Friday factory output rose 9.6 percent over a year earlier, up from the previous month’s 9.2 percent. Retail sales rose 14.5 percent, up from September’s 14.2 percent.
The data are welcome news for the ruling Communist Party, which is meeting in Beijing to carry out a once-a-decade handover of power to younger leaders. Coming off the past year’s steady declines in economic activity, a rebound might allow the new leaders to benefit from improving public sentiment.