China retail sales up

Retail sales in China grew 13.4 per cent in August.

According to data from the National Bureau of Statistics, that’s slightly higher than July’s 13.2 per cent, indicating an improvement in the nation’s domestic demand.

Retail sales in the first eight months rose 12.8 per cent to 14.81 trillion yuan ($2.39 trillion).

Meanwhile, industrial production increased 10.4 per cent, accelerating from 9.7 per cent in July.

China’s economy is projected to grow 7.6 per cent in 2013, up from the 7.5 growth in the second quarter.

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