China Car Sales Rise in August by 11 Percent

China’s auto sales accelerated in August as an economic recovery gained strength, an industry group reported Tuesday.

Customers in the world’s biggest auto market bought 1.35 million automobiles, according to the China Association of Auto Manufacturers. Sales growth accelerated to 11 percent from July’s 10.5 percent.

The growth comes as other improved factory output and indicators suggest China’s economy is rebounding after growth fell to a two-decade low of 7.5 percent in the quarter ending in June.

via Mainichi

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza