China's August Industrial Output Rises 16 Percent

摘要

China's industrial production rose 16 percent in August as companies including Aluminum Corp, of China and ABB Ltd. boosted output to meet surging demand at home and abroad. That followed a 16.1 percent gain from a year earlier in July and beat the median 15.7 percent increase forecast in a Bloomberg News survey of eight economists. Production amounted to 597 billion yuan (74 billion dollars), according to Beijing-based Mainland Marketing Research Co., which releases figures on behalf of the statistics bureau. The report adds to evidence that China's economy, which expanded 9.5 percent in each of the last two years, is sustaining a rapid pace of growth, helping Premier Wen Jiabao to create nine million new jobs this year. Rising consumer spending and booming exports are compensating for a government-engineered slowdown in investment growth.