LONDON (ShareCast) - Hopes of a global economic revival were raised again after China's May factory output rose more than expected and retail sales growth accelerated.
China's annual industrial output growth rebounded to 8.9% in May
from 7.3% the previous month, higher than the forecast of around 7.5%, the National Bureau of Statistics said on Friday.
Meanwhile separate data showed annual growth in retail sales rose to 15.2% in May from 14.8% in April, also ahead of forecasts.
The surveys will add further to the sentiment that China, which recently announced a $586bn package to boost the economy, can lead the global economy out of recession.
Meanwhile, Japan's industrial output rose 5.9% in April, according to revised government data.
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