China producer prices shrink most in three years in August By Reuters

G20 heads to stop short of denouncing protectionism in communique: Nikkei

China producer prices shrink most in three years in August

BEIJING (Reuters) – China’s factory gate prices contracted for the second month in August and at a sharper rate, reinforcing the urgency for Beijing to step up stimulus as a deepening trade war with the United States heaps pressure on its manufacturing sector and the broader economy.

The producer price index (PPI), a key barometer of corporate profitability, dropped 0.8% from year earlier in August, National Bureau of Statistics (NBS) said.

It was the worst year-on-year contraction since August 2016, when it fell 0.8%.

Analysts polled by Reuters had expected factory gate inflation to have shrunk 0.9% year-on-year last month, following a 0.3% decline in July.

The consumer price index (CPI) rose 2.8% in August on-year, unchanged from July. That compared with a 2.6% increase predicted by analysts.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.




Source link