CHINA

Growth Rate Up for Industrial Output, Retail Sales: In a sign that an easing of austerity measures may be sending the nation’s economy into overdrive again, China announced that the growth rate for its industrial output and retail sales climbed in November from October. China’s official Xinhua news agency said the month’s industrial production rose 18.9% to $53 billion from November, 1992, against a 16.4% year-on-year increase in October. Quoting State Statistical Bureau figures, Xinhua also said retail sales climbed 30% compared with a 21.2% growth rate in October.