China's economic recovery accelerates in August: NBS

China's economic recovery accelerated in August as major economic indicators picked up, the National Bureau of Statistics (NBS) said on Friday.

Figures released by the NBS showed China's industrial output, an important economic indicator, grew by 4.5 percent in August from a year earlier, surpassing the 3.7 percent rise in July.

Retail sales, a key measure of consumer spending, went up 4.6 percent year on year in August, 2.1 percentage points faster than the previous month.

The surveyed urban unemployment rate came in at 5.2 percent last month, down 0.1 percentage point from the month before, according to the NBS.

Bruce Pang, chief economist and head of research at JLL Greater China, attributed the improved performance to summer travel and consumption, recovery of production and supply, and policy support in maintaining stable employment.

However, unstable and uncertain factors in the external environment still exist, while domestic demand remains insufficient, the NBS added.

The country will ensure effective implementation of policy and measures to stabilize growth and guard against risks, according to the NBS.

(Cover via CFP)

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