China's producer prices unexpectedly showed no growth in June from a year e...
BEIJING - China’s producer prices unexpectedly showed no growth in June from a year earlier, raising concerns a slowdown in manufacturing activity will further drag on economic growth.
China’s producer price index in June was flat from a year earlier, the National Bureau of Statistics said in a statement. That compared with a 0.6% rise in May and a gain of 0.3% forecast by economists in a Reuters poll.A cooling in producer prices, seen as a gauge of industrial demand that gives momentum to investment and profits in the Chinese economy, may rekindle worries about deflation and prompt the authorities to launch more aggressive stimulus.
China’s factory activity shrank more than expected in June as tariffs and weaker domestic demand hit new orders for goods.
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