China's factory-gate prices snapped six months of year-on-year declines in ...
BEIJING - China’s factory-gate prices snapped six months of year-on-year declines in January, although prolonged business closures from the coronavirus outbreak mean positive momentum is unlikely to persist.
The virus has killed more than 900 in China and has also added to price pressures with consumer inflation hitting a more than eight-year high as government restrictions on movement drove residents to stock up on essentials. Analysts attributed the rise to improving activity in the industrial sector at the end of last year, buoyed by a trade truce with the United States and government stimulus, which finally appeared to gain traction.
“Notwithstanding different coronavirus scenarios, we maintain our view that China’s mini-cycle recovery will be delayed, but not derailed,” said economists at Morgan Stanley in a note to clients on Monday.
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