Economics
China’s Strengthening Recovery Cements Status as Global Outlier
- Industrial output, consumer spending show steady gains
- Growth set to accelerate in fourth quarter, officials say
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China’s economic rebound gathered pace in October, cementing the nation’s status as the only major economy tipped to grow this year.
While the U.S. and Europe grapple with a resurgence in coronavirus infections, China’s early control of the pandemic means its economic recovery is expected to accelerate through the end of the year as consumers spend more. An export boom on the back of global demand for medical equipment and work-from-home electronics is also expected to sustain the momentum.