China's industrial production, an important economic indicator, increased by 7% year-on-year in November and up from 6.9% in October, data from the National Bureau of Statistics showed Tuesday.
This was the most growth since reaching 8.5% March last year and in line with analyst expectations in a Reuters poll.
In particular, production rose for manufacturing was 7.7% up from 7.5% in October, mining was 2.0% down from 3.5% in October and utilities were 5.4% last month compared with 4% in October.
Retail trade rose by 5.0% year-on-year last month, the fourth successive month of expansion and the fastest growth since reaching 8% December last year. This was faster than the 4.3% increase in October and just missed analysts' forecast for 5.2% growth.
Analysts said the annual shopping festival in November held by China's e-commerce giants stimulated consumption. There was 11.8% growth in auto sales and 5.1% growth in household appliances and 43.6% increase in communication equipment sales last month.
"China's production and demand continued to rebound steadily in the fourth quarter," said Fu Linghui, National Bureau of Statistics spokesman. "The economic growth is expected to continue to accelerate compared to the third quarter."
In the third quarter, China's economic growth increased to 4.9% year-on-year and up from 3.2% in the second quarter and 6.8% contraction in the first quarter.
Over the first 11 months of the year, industrial output rose by 2.3%. Thanks to a faster-than-expected recovery, China's economic growth will increase to 8.2% next year, said the International Monetary Fund in the World Economic Outlook.
