Retail sales, factory out top f39;casts in boost to recovery
Gives policymakers hope of keeping growth stable
But continued weakness in property remains big concern
Analysts say more policy support needed to shore up economy

BEIJING, March 18 Reuters China39;s factory output and retail sales beat expectations in the JanuaryFebruary period, marking a solid start for 2024 and offering some relief to policymakers even as weakness in the property sector remains a drag on the economy and confidence.

Monday39;s data join recent betterthanexpected exports and consumer inflation indicators, providing an early boost to Beijing39;s hopes of reaching what analysts have described as an ambitious 5.0 GDP growth target for this year.

China39;s activity data broadly stabilised at the start of the year. But there are still reasons to think some of the strength could be oneoff, said Louise Loo, China economist at Oxford Economics.

Industrial output rose 7.0 in the first two months of the year, data released by the National Bureau of Statistics NBS showed on Monday, above expectations for a 5.0 increase in a Reuters poll of analysts and faster than the 6.8 growth seen in December. It also marked the quickest growth in almost two years.

Retail sales, a gauge of consumption, rose 5.5, slowing from a 7.4 increase in December but beating an expected 5.2 gain.

The eightday Lunar New Year holiday in February saw a solid return of travel, which supported revenue of tourism and…