While the market continues to dip on fears of the “Fiscal Cliff,” China’s economy is showing signs of a turnaround…
Industrial production growth beat expectations, checking-in at 9.6%. And retail sales jumped 14.5% in October over last year.
According to Reuters, this adds “to a series of snapshots showing a brighter outlook for manufacturing, which had been hit earlier in the year by Europe’s steep slowdown… The numbers provide a comfortable cushion for China’s top leaders. They’re gathered in Beijing to announce a leadership change. They’re now under less pressure to speed through reforms to prop up the world’s second largest economy.”
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