China factory gate prices fell last month at the slowest pace since February

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BEIJING – Factory-gate prices in China fell last month at their slowest pace since February, official data showed on Monday, suggesting that China’s manufacturing sector continues to experience a steady recovery from the COVID shock. 19.

The producer price index (PPI) fell 0.4% from the previous year, the National Bureau of Statistics said in a statement. The index is expected to fall 0.8%, according to a median forecast from a Reuters poll, after falling 1.5% in November.

The data comes as manufacturing activity in the world’s second largest economy grew in December, albeit at a slightly slower pace due to rising raw material costs.

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On a monthly basis, the PPI rose 1.1% in December after rising 0.5% in November, indicating improving corporate profitability.

Commodity prices fell 1.6% from a year ago, compared to a 4.2% drop in the previous month.

Chinese factory outlet prices fell last month at their slowest pace since February, official data showed on Monday, suggesting that China’s manufacturing sector continues to experience a steady recovery from the COVID-19 shock.

China’s industrial sector has seen an impressive rebound from the coronavirus shock thanks to surprisingly strong exports, helping to fuel a robust economic recovery. But rising global infections – and new coronavirus brakes in many countries – can cloud the outlook for Chinese manufacturers.

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The Consumer Price Index (CPI) was up 0.2% from a year earlier in December, after falling 0.5% in November, the first drop since October 2009. Analysts poll Reuters had forecast a rise of 0.1%.

Food prices rose 1.2% from a year ago, compared to a 2.0% decline the month before.

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