China Growth Rebounds

China’s economic growth accelerated for the first time in three quarters, as Premier Li Keqiang spurred factory output and investment to meet the government’s expansion goal for 2013.

Gross domestic product rose 7.8 percent in the July-September period from a year earlier, the National Bureau of Statistics said today in Beijing, matching the median estimate in a Bloomberg News survey. Industrial production advanced in September by 10.2 percent, in line with projections, while retail sales gained 13.3 percent.

The pickup reflects Li’s implementation of what Bank of America Corp. called a “mini fiscal stimulus,” including railway spending and tax cuts, to support the world’s second-largest economy. Today’s figures also showed home sales jumped 34 percent in September from the previous month even amid restrictions aimed at preventing a bubble, adding to signs of imbalances that may cast doubt on the recovery’s staying power.

Bloomberg

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.