China’s factory output grew in July at its fastest pace since the start of the year, adding to a run of data suggesting the world’s second-largest economy may be stabilizing after more than two years of slumping growth.
A steadying economy would be a relief to China’s leaders, who worry a further slowdown could derail their efforts to rebalance the economy away from its credit- and investment-driven growth model to one in favor of consumption.
Factory output rose 9.7 percent in July from a year earlier, the fastest growth since output grew 9.9 percent over January and February, National Bureau of Statistics data showed.
It followed Thursday’s surprisingly strong trade data and, given targeted measures since mid-year to support small firms and exporters, added to signals the economy may have found its base after slowing in nine of the past 10 quarters.
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