Nov. 1 (Bloomberg) -- China’s manufacturing expanded at the fastest pace in 18 months and a government researcher said economic growth will accelerate this quarter.
Surging auto sales, driven by tax cuts and subsidies, are boosting manufacturing. Passenger-car purchases exceeded 1 million for the first time in September as General Motors Co., the largest overseas automaker in China, reported that sales doubled.
China will sustain its economic rebound this quarter and growth is likely to top the government’s 8 percent target for 2009, the central bank said Oct. 30.
