China's factory output rises in sign of recovery
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In this Monday, Oct. 29, 2012 photo, workers assemble LED products at a factory in Suining, in southwestern China's Sichuan province. China's manufacturing improved in October, adding to signs the world's second-largest economy might be recovering from its deepest slump since the 2008 global crisis, two business surveys showed Thursday, Nov. 1, 2012. -- PHOTO: AP
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 on Friday factory output rose 9.6 per cent over a year earlier, up from the previous month's 9.2 per cent. Retail sales rose 14.5 per cent, up from September's 14.2 per cent.
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.
