Surge in truck sales adds to signs of a robust recovery

Firms are adding to their fleets of trucks at the fastest pace in a decade, suggesting that they expect growth in industry to accelerate well above trend in the next few quarters.  One near-term prop will be fiscal policy, with local governments recently directed to use up the rest of their sizeable annual bond quotas by the end of October. And while consumption is likely to continue to lag investment, the sharp decline in outbound tourism means that each yuan of household spending is providing a larger boost to GDP than usual.