China’s factory output and retail sales topped forecasts last month in signs that an economic recovery is accelerating, improvements that may pare a jobless rate newly estimated at almost double the official figure.
Industrial production climbed 10.1 percent in November from a year earlier and retail sales growth accelerated to 14.9 percent, while inflation was 2 percent, the statistics bureau said yesterday. The urban unemployment rate exceeded 8 percent this year, a central bank-backed research center said yesterday in Beijing, citing a household survey.
China’s economic revival and inflation running at half the pace of this year’s target may help the Communist Party’s new leadership maintain public support after a once-a-decade power transition. Challenges for the nation’s next president, Xi Jinping, include a wealth gap that the same household survey indicates is 50 percent higher than the level that risks triggering social unrest.
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