While you were sleeping China signals rebound

Mon, 10 Dec 2012

By Margreet Dietz Dec 11 (BusinessDesk) - Wall Street moved higher amid promising data on China's economy, fuelling hopes that the world's second-largest economy is gathering steam again. China offered better-than-expected data on both industrial output and retail sales, welcomed by a market that is on tenterhooks about US budget talks aimed at avoiding the US$600 billion in tax increases and spending cuts scheduled to kick in on January 1. “China hit that trough and is starting to see an acceleration of growth,” Tom Wirth, who helps manage...

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