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China's economic growth surged in August, thereby relieving pressure for stimulus and fears that a sharp downturn would reduce worldwide growth, according to new data. Retail sales accelerated to 10.2%, led by auto sales, which rose 13.1%, and industrial production, a bellwether for the critical manufacturing sector, grew 6.3% annually, marking the fastest pace since March. Furthermore, Economist Intelligence Unit's Tom Rafferty notes that "the property market is proving surprisingly resilient as buyers step up purchases ahead of anticipated policy tightening, and this has acted to support the industrial sector and commodity prices. " The U.S. economy added 223,000 jobs last month, while unemployment fell from 4.9% at the end of June to 4.4%.