China says industry recovery trend not yet stable
BEIJING (REUTERS) - China's industrial sector is still not on a stable recovery track, particularly in export markets, the Ministry of Industry and Information Technology said on Thursday.
"The stabilisation trend of China's industrial sector is not yet solid and we are still facing many challenges and difficulties to realise stable growth," the Ministry said in a statement released ahead of a scheduled news conference.
China's industrial output in September grew 9.2 percent, picking up from a rise of 8.9 percent in August, and along with other economic data from exports to retail sales, signals that recovery is taking hold in the world's second-largest economy.
A jump in annual export growth in September to 9.9 percent, roughly twice the rate expected by investors, has led some analysts to conclude that recovery in the external sector is gathering momentum.