11 December 2009
China's latest economic data suggests the country's recovery is gaining momentum. Industrial output, retail sales and investment have all recently exceeded expectations.
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China's economy has recovered earlier and more strongly than any other. This latest data is further evidence of that trend. The rise in industrial output confirms what factory owners have been saying for some time now, that customers have been restocking their inventories and confidence is returning.
There are still question marks though over the stability of the recovery. The property sector is showing signs of overheating. The government this week announced measures to try to cool it. At the same time officials decided to extend tax subsidies for purchases of small vehicles and appliances suggesting that some here still believe Chinese manufacturers need government support.
Growth was strongest in heavy industries such as coal, steel, power generation and automobiles. Consumer prices rose in November for the first time since February. But the rise was small and probably reflected higher food prices caused by early snowstorms which destroyed crops and disrupted transport.
Chris Hogg, BBC News, Beijing
Click to hear the vocabulary:
- latest data
the most recently gathered information (facts or numbers)
a general development or change in a situation
- rise in industrial output
increase in amount of goods produced
- restocking their inventories
- There are still question marks
there are matters that need to be dealt with or considered
- property sector
the buying and selling of buildings
growing too quickly
- cool it
slow things down
appliances, machines or pieces of equipment (especially electrical) that are used in the house, such as a cookers or washing machines
- disrupted transport
prevented buses, trains and travel systems from functioning as expected