* Industrial output grows at fastest rate since March 2008

* Retail sales strong, but lending and investment soften

* Recovery on track even though imports, exports disappoint

* Jury out on timetable for China to start tightening

By Aileen Wang and Alan Wheatley

BEIJING, Nov 11 (Reuters) - Chinese factory output growth surged to a 19-month high in October, showing the world's third-largest economy has firmly put the worst of the global financial crisis behind it.

Other figures released on Wednesday showed a dip in the pace of investment and loan growth as the impact of the initial burst from a bank-financed 4 trillion yuan ($585 billion) economic stimulus package, announced a year ago, tapered off.

Exports and imports also undershot market forecasts, falling from year-earlier levels for the 12th month in a row.

But economists said China was maintaining the momentum of its recent recovery, which has made it a certainty that Beijing will surpass its target of 8 percent growth for 2009 as a whole.