China's retail sales pick up pace
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China's retail sales grew at their fastest pace in five months during October, driven by rising wages.
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U.S. chain store retail sales rose in the latest week, as increased customer traffic at discount and department stores continues to drive sales, a retail report said on Tuesday.
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Improved sales of household goods, clothing, footwear and food helped retail sales increase 0.6 per cent in November, increasing the likelihood of higher interest rates next year.
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Chinaâs trade surplus rose to $26.9 billion in June, showing that demand for the countryâs goods remains strong despite concerns about their safety.
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Ford Motor Co.  said on Thursday its China retail vehicle sales rose 25 percent year-on-year in the first half to 93,206 units.
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U.S. retail sales jumped sharply in  November as shoppers went on a spending spree that will  reinforce the Federal Reserve's view that the cooling housing  market has not hurt the rest of the economy.
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Chinaâs inflation rose to 6.5 percent in August, an 11-year high, and the trade surplus widened by 33 percent to $24.97 billion, the second-highest monthly level on record.
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China's economy continues to expand at a rapid pace, growing 9.5% in 2004 despite government efforts to take it off the boil.
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Retail sales have risen sharply in the run-up to the key Christmas season, adding to data which suggests the economy is gathering pace and interest rates may rise next year.
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China's consumer inflation picked up pace in November, largely due to an increase in food prices, figures show.
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China's economy grew 11.4 percent in 2007, its fastest expansion in 14 years, driven by a boom in exports and investment, but growth slowed slightly toward the end of the year, according to government data reported Thursday.
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Wal-Mart Stores, the worldâs No.1 retailer, said the number of its China stores would be lifted by at least 15 new stores with the total of around 45 outlets throughout China.
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Chinaâs auto parts exports have increased more than sixfold in the last five years, signaling a shift from basic goods to higher-value industrial goods.
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The pace of Chinaâs economic development is still strong enough to keep pushing up prices around the world for everything from oil to iron ore to freight shipping.
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China grew 11.4 percent in 2007, the  fastest pace in 13 years, but is headed for a modest slowdown  this year as global demand weakens and credit curbs to cap  inflation ripple through the economy.
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Honda Motor's  China vehicle sales rose 23.2 percent from a year earlier in the first 11 months of 2006, lagging the growth of the overall market.
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Philip Ehrmann, whose Gartmore China Opportunities Fund rose 14.7 percent during the past three months, is boosting his investment in Chinese retailers such as Wumart Stores Inc., anticipating that China's will remain the world's fastest-growing economy in 2005.