Foundation for recovery needs consolidating

The economic data the National Bureau of Statistics released on Wednesday show that the recovery of the Chinese economy continued in October.

The total retail sales of consumer goods increased by 7.6 percent in October year-on-year, 2.1 percentage points higher than the previous month. In the first three quarters of this year, the contribution rate of consumption expenditure to economic growth reached 83.2 percent, 6 percentage points higher than that of the first half of the year.

Industrial production in October increased by 4.6 percent year-on-year, 0.1 percentage points faster than the previous month, and the year-on-year growth rate of industrial enterprises above designated size has turned positive for two consecutive months, surging 11.9 percent in September.