Chinese factory activity and retail sales peaked in 10 months in October, while the world’s largest economy leaves COVID-19 behind

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TOPICS: Economy Posted By: newsus December 2, 2020 Factory activity in China surged more than expected in October, while a separate statement on Monday showed retail sales surging to the highest in a decade, underscoring how the world’s second-largest economy is recovering from the COVID-19 pandemic. The increase in industrial production increased by 6. 9% year-on-year in October, exceeding market expectations of a 6. 7% increase and marking the biggest increase since December, thanks to strong innovations in all primary sectors, according to Chinese government data. Machinery production rose 17. 6% in October, with 15. 9% in September, while other...