Key China Indicators Show Economic Comeback

SCOTT McDONALD

BEIJING (AP) — The slump in China's exports eased last month and several other key indicators showed improvement Wednesday, fresh evidence that recovery in the world's third-largest economy was firmly on track.

Exports fell 13.8 percent in October to $110.8 billion from the same month last year, the smallest decrease in 10 months, according to government figures released Wednesday. Imports dropped by 6.4 percent to $86.8 billion over the same period, a slightly faster pace than in September.

Industrial output and retail sales also rose sharply over the previous year, further signs that sluggish growth might be picking up.

Meanwhile, the key inflation rate, known as the consumer price index, was down 0.5 percent in October from the same month last year, according to the National Bureau of Statistics.

Together, the monthly figures provide the latest evidence that China's economy will meet or surpass the government's goal of 8 percent economic growth for the full year.

Statistics Bureau spokesman Sheng Laiyun said retail sales were up a robust 16.2 percent in October from the same month last year, while industrial output rose 16.1 percent.