China's factories picked up their pace and retail sales also gained momentum in August, the government reported Friday, suggesting the economy may be gradually recovering from its post-pandemic malaise.
However, despite busy activity in restaurants and stores, the figures showed continuing weakness in the all-important property sector, where real estate developers are struggling to repay heavy loads of debt in a time of slack demand. Investment in real estate fell 8.8% in August from the year before. The decline has been worsening since the beginning of the year.
