China's industrial output grows the fastest in five months in August as demand for products from coal to cars rebounds thanks to higher government spending and a year-long credit and property boom. As David Pollard reports, euro zone data was encouraging too, employment at its highest level since 2008.
Economists can be choosy when it comes to Chinese data - government figures sometimes seen as suspect. But, with faster retail sales and a rise in factory output, the shelves do appear to be stacking up with signs of improvement. SOUNDBITE (English) CITY INDEX MARKET ANALYST, KEN ODELUGA, SAYING: "The data could perhaps be a bit more informative. On the other hand, there does seem to be some sort of base occurring - we've seen it in some other data, we saw it in the trade figures that came out earlier this month, then we saw it in the retail side, the consumption side, the producer side." China's industrial output grew at its fastest in five months in August. Retail sales were up a bigger-than-expected 10.6 per cent. Chinese consumers doing more for the economy than simply buying. SOUNDBITE (English) CITY INDEX MARKET ANALYST, KEN ODELUGA, SAYING: "It does seem to suggest that the consumer its performing his role of holding things up or at least bolstering the economy. There are some questions about credit, the rise of credit in China." Those questions principally focused on whether China's year-long property boom could be peaking. But, as data days go, it's was a good one elsewhere too. Japanese manufacturers turned optimistic about business conditions in the third quarter. Euro zone stats show employment at its highest level since 2008. Italian industrial production recovered more than expected in July. Though for the pessimists, Germany's ZEW survey points to ongoing caution over Europe's biggest economy amid Brexit concerns. While German inflation is confirmed to have fallen by 0.1 percent on the month. A reminder that the euro zone recovery is still looking anything but sharp.