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  • China continued to shake off its covert 19 slump on Monday.

  • Factory output in the world's second largest economy rose faster than expected in October, with industrial production climbing 6.9% from a year earlier.

  • The gains beat the 6.5% rise expected in a Reuters poll of analysts.

  • China's industrial sector has staged an impressive turnaround from the pandemic.

  • It's being helped by resilient exports, but also good news at home to consumers are opening up their wallets again in a further boost to the economy, Improved appetite for spending was seen in China's auto sales, growing 12.5% in October, with demand surging, particularly for electric vehicles.

  • European shares rose in morning trade, hovering near nine month highs.

  • The pan European stock 600 was up around not 6000.7% in early deals, with banks and travel stocks gaining the most.

  • Hong Kong stocks closed higher after the upbeat data as well as news of the establishment of a China backed trade bloc.

  • China's consistent run of good data since the second quarter has prompted speculation the central bank may start to tighten policy, but analysts say policymakers are unlikely to rush winding down existing stimulus.

China continued to shake off its covert 19 slump on Monday.

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B2 china slump economy industrial european rose

China's economy shakes off COVID slump

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    林宜悉 posted on 2020/11/17
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