China's economy shows signs of recovery in August as stimulus ramps up

China’s economy showed signs of recovery in August as Beijing rolled out stimulus measures to counter a slowdown, although a property market slump and Covid outbreaks continue to weigh on the outlook.

Industrial production growth accelerated to 4.2%, the National Bureau of Statistics said Friday, beating economists’ forecast of a 3.8% increase. Retail sales rose 5.4% from a year earlier, higher than the expected pace of 3.3%, and up from 2.7% in July. The rebound came on the back of a low comparison base last year and remained well below the pre-pandemic levels. 

Fixed-asset investment gained 5.8% in the first