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China Industrial Output Climbs 8.8%, Matching Forecasts

China's industrial output and retail sales increased at a faster pace in May, adding to evidence that Premier Li Keqiang's support measures are stabilizing the world's second-biggest economy. Factory production rose 8.8 percent in May from a year earlier, the National Bureau of Statistics said in Beijing today, up from 8.7 percent in April. Retail sales increased 12.5 percent and January-May fixed-asset investment growth was little changed at 17.2 percent. "The data confirms stabilization of economic activity and even a modest improvement on the manufacturing side," said Dariusz Kowalczyk, senior economist at Credit Agricole SA in Hong Kong.