12 Nov 2009

China economic growth indicators surge ahead

3:00 pm on 12 November 2009

The latest economic data from China suggests the country is well on track to meet its target of 8% growth this year.

Official figures indicate activity in factories and workshops increased 16% in October, compared with the same period a year ago, the BBC reports

Retail sales also rose 16%, while consumer prices continued to fall.

The country's $US586 billion economic stimulus package is still driving demand for goods produced in China.

Exports declined at the slowest pace since last December.